Tag Archives | National Iranian Oil Company (NIOC)

Iran’s Oil Exports Doubled with JCPOA Implementation

Iranian President Hassan Rouhani highlighted the outcome of the July 2015 nuclear deal with world powers, known as the Joint Comprehensive Plan of Action (JCPOA), saying that the country’s oil exports have doubled since the deal took effect in January 2016. “The exports of crude oil and condensates have increased by at least two times […]

Iran Starts Operating SP20 Project

Iran announced it has started gas recovery from phase 20 development of the supergiant South Pars gas field (SP20) on Sunday. The Deputy Managing Director of the National Iranian Oil Company (NIOC) for Engineering and Development Affairs Gholam-Reza Manouchehri said gas and condensate recovery has started at 25 million cubic meters and 40,000 barrels per […]

Iran, Norway in Oil Talks

Norway’s oil industry can invest in Iran’s upstream development projects and also collaborate with Iranian companies to adopt enhanced oil recovery (EOR) methods to boost recovery rate from Iranian oilfields, an official says. Gholamreza Manouchehri, deputy head of National Iranian Oil Company (NIOC), made the statement while addressing a panel on “Iran and Norway Upstream […]

Iran Discovers New Shale Oil Deposit

An Iranian official announced the discovery of new shale oil reserves in the country’s western province of Lorestan. Oil exploration studies in Qalikooh region in the province of Lorestan led to the discovery of a new shale oil field with 2 billion barrels of in-situ oil reserves, Bahman Soleimani, an official at the Exploration Directorate […]

Iran to Drill 500 new Oil Wells in 5 Years

By John Lee. Iran expects its oil production to reach 4 million barrels per day by mid-April, and plans to drill 500 new wells over the next five years to raise output to 4.7 million bpd, a senior oil official said on Saturday. Iran’s daily output in January was close to 3.9 million barrels. “We […]

NIOC, SINOPEC hold talks on Upstream Cooperation

Senior executives from the National Iranian Oil Company (NIOC) and China Petrochemical Corporation (Sinopec Group) met to discuss avenues for furthering cooperation in upstream projects. NIOC Chief Ali Kardor and Wang Yupu, Chairman of Sinopec Group, attended the Sunday meeting in Tehran. “NIOC’s priority is signature of deals under the new framework of oil contracts,” […]

NIOC Denies Halt to New-Style Iran Oil Contract

An Iranian oil official dismissed comments by an MP that a new format of the country’s oil contracts has been abandoned, saying the high degree of sensitivity requires experts to spend more time on formulating the final version of the contract before it comes into force. Speaking to Tasnim on Tuesday, CEO of the National […]

SADRA Building 10 South Pars Platforms

SADRA (Iran Marine Industrial Company) is building 10 offshore platforms to develop the remaining phases of the supergiant South Pars Gas Field in Persian Gulf waters. The company is expected to launch the platform of phase 22 of the gas field which is shared by Iran and Qatar, by June, said Gholamreza Manouchehri, the deputy […]

Malaysian Company to Study Iran Oil Fields

The National Iranian Oil Company (NIOC) and Malaysia’s Bukhary International Ventures (BIV) have signed a memorandum of understanding (MoU) for carrying out studies of Iran’s Golshan and Ferdowsi fields. The two sides signed the deal in Tehran on Wednesday. Based on the document BIV will submit the result of its studies to NIOC over the […]

15 Billion Barrel Oil Find in Iran

The Managing Director of the National Iranian Oil Company (NIOC), Ali Kardor, says new discoveries have placed Iran’s total in-situ oil reserves at least 15 billion barrels higher than previous estimates. 2 billion barrels of the amount can be recovered, the official told a press conference. Iran is estimated to be stilling atop 711.53 billion […]