Tag Archives: Iran

Total has a 50.1-percent share in the deal. The state-owned China National Petroleum Corp. has 30-percent stake and Iran’s Petropars has 19.9 percent.

Iran has steadily reconnected with buyers across Europe since sanctions were lifted and NITC expects to play a bigger role.

Currently. Iran’s oil output stands at 3.8 million barrels per day. despite numerous statements that the country reached its pre-sanction production level of 4 million bpd.

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.