Tag Archives: National Iranian Oil Co. (NIOC)

Reacting to the Total’s statement. Iranian Oil Minister Bijan Namdar Zanganeh said Total will lose all of its investment if it pulls out of the deal.

The Tatneft Company. with headquarters in the Republic of Tatarstan. is the fifth largest oil producer in Russia and participates in more than 77 oil fields as an operator.

Total was the first Western oil major to sign a $4.8 billion deal with Iran in July 2017 to develop and operate phase 11 of Iran’s South Pars.

Iran is currently producing 4.5 million tons of ethane annually which will cross 6 mt y next year and 10 mt y by 2020.

In 2004. Iran and Armenia inked a barter contract in the field of gas and electricity for 20 years.

The price of Iran'.s light oil increased by 1.69 dollars in the mentioned period to reach 69.26 dollars per barrel.

Iran is currently in talks for signing 21 oil and gas contracts which will require an investment of 50 billion dollars by 2030 in the sector.

Iran exported an average of 2.559 million barrels of crude oil per day during September 23-December 21. 2017.

Iran produces more than 800 million cubic meters of gas per day.

Total is the operator of the SP11 project with a 50.1% interest alongside the Chinese state-owned oil and gas company CNPC (30%). and Petropars (19.9%). a wholly owned subsidiary of NIOC.