Tag Archives: Sanctions

The BP head said that the company would spend $15 billion in projects this year. and in 2018 and 2019.

The deal with Total increases Iran'.s energy security and is likely to encourage other foreign companies to invest in Iran.

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.

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.

Total however also has large projects in Saudi Arabia and the UAE. highlighting the complexity of investing in the Middle East.

Total. which will take over the field operation from Maersk Oil on July 14. plans to invest $2 billion in expanding the field over the next five years.

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 holds the world’s second-largest natural gas reserves after Russia. according to US Energy Information Administration data.

The new pipeline. dubbed the ".Power of Siberia".. has a planned annual capacity of 38 billion cubic meters.