Tag Archives: Iran

The BP head said that the company would spend $15 billion in projects this year. and in 2018 and 2019.

The deal with Total increases Iran'.s energy security and is likely to encourage other foreign companies to invest in Iran.

Total holds a 50.1 interest in the South Pars project with state-owned China National Petroleum Corporation owning 30 percent and Iran’s Petropars 19.9 percent.

The field holds 2.5 billion barrels of crude oil in place. some 400 million barrels of which are recoverable.

The biggest exploration expenses are expected for blocks Parsa and Bamdad in the Gulf. amounting to 80 million euros and 75 million euros respectively.

Development of petrochemical plants is one of the key issues on the Rouhani administration'.s agenda.

Iran’s average oil and oil product exports stood at 2.224 million barrels per day in last fiscal year. 41.3 percent more year-on-year.

France'.s Total signed a deal earlier this month to help Iran increase gas output from the giant South Pars gas field. which the country shares with Qatar.

Total however also has large projects in Saudi Arabia and the UAE. highlighting the complexity of investing in the Middle East.

Iran'.s Energy Ministry says electricity demand is forecast to reach 56.000 MW this summer.