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TEHRAN, Feb. 20 (Shana) – Iranian Minister of Petroleum Bijan Zangeneh left Tehran for Baghdad on Monday as the head of a delegation to Iraq . The visit is being made as a follow-up on last month’s visit of another Iranian delegation to neighboring Iraq for discussing details of two memoranda of understanding (MoUs) between the oil ministers of the ...

TEHRAN, Feb. 20 (Shana) – A senior petroleum official says employing the newly-devised Iran petroleum contracts (IPC) is crucial for enhancing recover of oil and gas from Iran’s reserves. Gholamreza Manouchehri, the deputy for development and engineering at the National Iranian Oil Company (NIOC), said on Saturday that IPC is focused on fields’ development in the long-run. “These deals oblige ...

TEHRAN, Feb. 19 (Shana) – Iran is in possession of nearly 7% of the world’s oil rigs, a senior Iranian oil official said. Roknoddin Javadi, deputy petroleum minister for supervision over hydrocarbon reserves, told an international drilling congress on Saturday that 7% of the world’s drilling rigs are currently operating in Iran’s oil and gas industry. He said the drilling ...

TEHRAN, Feb. 19 (Shana) – Managing Director of the National Iranian Oil Company (NIOC) Ali Kardor says Iran will need to drill at least 500 wells to reach the output envisaged by the 6th five-year development plan of the country to 2022. The plan puts the country’s total crude oil output at 4.7 million barrels per day. Addressing the 4th ...

TEHRAN, Feb. 18 (Shana) – French energy giant, Total, is determined to develop phase 11 of the supergiant South Pars Gas Field and has started financing 15 million dollars for carrying out the first phase of the project to develop the phase, a senior Iranian oil official says. Ali Kardor, the Managing Director of the National Iranian Oil Company (NIOC), ...

PARIS (Bloomberg) — Total SA raised its dividend by 1.6% and said it may give the go-ahead for almost a dozen new projects in the next 18 months after fourth-quarter profit beat analysts’ estimates. “We’re going to propose to increase the dividend as we have confidence in the future,” CEO Patrick Pouyanne told reporters in Paris. “My goal is to launch ...

SPRING, Texas — Exxon Mobil has awarded to Pason Systems, Inc. the first global license of its patented Drilling Advisory System, a key component of the company’s Fast Drill technology suite. The licensing agreement accelerates the technology’s commercialization by combining Pason’s expertise in drilling data and Exxon Mobil’s experience in drilling surveillance and optimization. Fast Drill combines high-end modeling of ...

RIO DE JANEIRO (Bloomberg) — Petroleo Brasileiro SA’s $5.2-billion sale of a natural gas distribution unit to Brookfield Asset Management Inc. and other investors has just hit a legal snag. A Brazilian federal judge granted an injunction against the acquisition of Nova Transportadora do Sudesteon Friday on grounds that the sale wasn’t sufficiently publicized to foster competition, according to a copy ...

HOUSTON — Saudi Aramco and Baker Hughes announced today the first installation of the TransCoil rigless-deployed electrical submersible pumping (ESP) system, which is designed to help operators bring wells on production faster and lower the costs associated with installing and replacing ESPs. Because they can eliminate the need for a rig in fields where rig availability is a concern or ...

The second session of Policy Council for 4th International Iran drilling congress & exhibition 2017 was held at prime meeting room of ministry of petroleum on January 21st 2017. Thirty two delegates from Iranian clients and contractors of upstream oil industry attended the meeting, as per invitation. Rokneddin Djavadi, deputy of petroleum minister and head of the council applauded the ...