Tag Archives | National Iranian Oil Company (NIOC)

NIOC Seals Oilfield Study MoU with Iranian Firm

The National Iranian Oil Company (NIOC) has signed a memorandum of understanding (MoU) with Ghadir Investment Company (GIC) to carry out studies of oil and gas fields in Iran. Based on the deal, GIC will study the Kisha, Sepehr, Jofeir and phase III of Darkhowin oil and gas fields; GIC will have 6 months to […]

Oil Majors Present Development Plans for Iranian Oil Projects

Six international oil giants have completed their surveys and submitted plans to the National Iranian Oil Company (NIOC) for developing oil and gas reservoirs, chief executive officer of the NIOC has said. “Russia’s Lukoil, Indonesia’s Pertamina, Japan’s Inpex, French energy giant Total S.A. and Denmark’s Maersk Group are among the majors which have provided NIOC […]

FDI Needed for Developing Khazar Oilfields

Iran says foreign direct investments (FDI) would be needed for developing oil fields in Caspian Sea. Managing Director of the National Iranian Oil Company (NIOC) Ali Kardor said foreign investors and developers would engage in development of oil and gas fields in the Caspian Sea in the wake of the eased sanctions on Tehran’s economic […]

Gazprom signs MoU with Iran

Russia’s Gazprom and the National Iranian Oil Company (NIOC) have signed a Memorandum of Understanding in Moscow. The signing ceremony took place in the presence of Vladimir Putin, President of the Russian Federation, and Hassan Rouhani, President of the Islamic Republic of Iran. In accordance with the document, the parties will examine the avenues for cooperation in the field of hydrocarbon prospecting, exploration and production within […]

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,” […]