Tag Archives: Iranian Ministry of Petroleum

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.

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.

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

Iran aims to attract more than $70 billion for dozens of new petrochemical plants in line with plans to double its petrochemical production capacity in five years.

Iran’s annual petrochemical production capacity stands at 62 million tons and by the end of this year.

European firms as well as Asian enterprises have already expressed their willingness to play an active role in developing Iran'.s lucrative petrochemical market.