Talks With Int'l Firms  for 50 Oil, Gas Projects
Talks With Int'l Firms  for 50 Oil, Gas Projects

Talks With Int'l Firms for 50 Oil, Gas Projects

Talks With Int'l Firms for 50 Oil, Gas Projects

Iran is negotiating with 16 international energy companies to help operate and manage 50 oil and natural gas projects around the country to boost production after years of international sanctions.
The projects are feasible even with oil at $40 a barrel, Gholamreza Manouchehri, a deputy director of the National Iranian Oil Company, told reporters in Tehran on Wednesday, Bloomberg reported.
The South Azadegan field on Iran’s southwestern border will be the first deal announced, and probably needs $10 billion to add 600,000 barrels a day of output, he added.
“We have a lot of companies approaching NIOC. I am not sure when we will sign the first contract. I hope it will be earlier than a year from now. ”
Iran is recovering from sanctions that undermined its economy and deflected investment in its oil and gas industry. An easing of sanctions in January has allowed the country to ramp up oil exports, to 2 million barrels a day in July from 1.4 million at the end of last year, Joint Organizations Data Initiative data shows.
Iran, currently the No. 3 producer of the Organization of Petroleum Exporting Countries, is seeking to boost production at oil and gas fields, and will need about $200 billion over the next four years for energy investments, according to figures provided by Oil Minister Bijan Namdar Zanganeh.
The International Monetary Fund said Wednesday that economic conditions in Iran are improving and forecast growth of 4.5% this year compared with 0.4% in 2015.
Iran wants to produce about 4 million barrels of crude a day to regain its pre-sanctions share of the market, Zanganeh said Tuesday. Iran’s output was 3.63 million barrels a day in September, data compiled by Bloomberg show.


Short URL : https://goo.gl/E0e0mp
  1. https://goo.gl/4tOinA
  • https://goo.gl/Y8ffcD
  • https://goo.gl/jhYxZK
  • https://goo.gl/dcM4ff
  • https://goo.gl/R3Lwui

You can also read ...

Offshore drilling is expensive in a time of relatively low oil prices.
The US administration on Friday said it would offer the...
Egypt to Import LNG   From France
Egyptian Natural Gas Holding Company has arranged for the...
India to Increase Oil Imports From Iran
In April through January, the first 10 months of this fiscal...
UAE Committed to OPEC Output Reduction Deal
The UAE will remain committed to the global oil output...
The national gas network accounts for providing 70% of the country's energy.
In line with efforts to deliver natural gas to far-flung...
SP Phase 13 Ready to Deliver Sweet Gas
The first gas sweetening train in Phase 13 of South Pars Gas...
NPC Subsidiary, Foreign Firms in Scientific Coop.
The Petrochemical Research and Technology Company of Iran...


First contract is "hoped" to be signed in a year or so!?

Add new comment

Read our comment policy before posting your viewpoints