Tag Archives: Iran

Iran needs foreign investment for repairs and upgrading of its oil and gas fields.

Iran has inked two separate contracts to export the product to Iraqi cities of Basra and Baghdad.

The South Pars oil layer is located 130 kilometers off Iran'.s coast in the Persian Gulf with an estimated 7 billion barrels of oil in place.

The second and third Bushehr reactors. which are estimated to cost upwards of $10 billion. are scheduled for launch in 2024 and 2026 respectively.

During the period of sanctions. oil production in the country was capped at about 2.7 million barrels a day. including 1 million barrels sent to export markets.

The US shale oil output will make up more than half of the 1.5 mb d in non-OPEC supply growth forecast for the next year.

Over past years. 5.000 trucks transit goods between the two countries. now it reaches to 15.000.

Under the sanctions Iran’s oil production was 2.7 million barrels per day. with one million barrels heading for export markets.

Iran'.s oil minister said in May that the international tender for the Azadegan oilfield was underway.

The two sides looked forward to building the third electricity transmission line as the grounds for gas trade multiplies.