Tag Archives: National Iranian Oil Co. (NIOC)

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

IPC is the first Iranian oil contract that clearly stipulates a role for domestic oil and gas equipment manufacturers.

Top priority has been assigned to developing joint oil and gas fields because our neighbors are drawing from the underground resources at a rapid pace.

Plans are in place to increase the number of liquefied petroleum gas carriers to help NIOC establish a foothold in the global market.

The Islamic Republic of Iran endorses the expansion of relations with France in political. economic and international fields.

Total will operate the SP11 project with a 50.1% interest. while Iranian Petropars company will have a share of 19.9% and the Chinese CNPC 30%.