Tag Archives: National Iranian Oil Co. (NIOC)

According to SHANA. the new oil deals based on Iran Petroleum Contract (IPC) is expected to replace buy-back contracts.

Iran is aiming to raise oil output to around 4 million bpd by the end of the year from around 3.8 million bpd in recent months.

Iran reportedly delivers 30 mcm d of gas to Turkey in the northwest and 5 mcm d in the west.

Iran has so far signed MoUs with 4 Russian companies for developing its oil and gas fields.

In order to feed the terminal. Iran will need to construct a pipeline stretching more than 1.000 kilometers to carry one million barrels of oil a day.

The optimal production means a production with the maximum recovery rate. that can boost the country'.s economic. security and political power.

All the talks are being run smoothly and none of the cases of negotiations is obstructing the others.

Volume of Iran’s gas recovery from South Pars stood at 285 million cubic meters in 2013 while the figure has climbed to 540 million cubic meters thanks to implementation of 11 new phases.

France’s Total signed a deal with Tehran last month to develop phase 11 of South Pars.

Essar Oil'.s new owners will settle over 2 billion euros ($2.4 billion) owed to Iran for past oil purchases.