Changouleh is one of the important oil fields in West Karoun region in southwestern Iran. Foreign companies have time and again shown interest in getting involved in development of this untapped field which Iran shares with neighboring Iraq.   Changouleh is one of the important oil fields in West Karoun region in southwestern Iran. Foreign companies have time and again ...

Iranian Minister of Petroleum Bijan Zangeneh says Tehran supports moves like the Doha conference which are aimed at tackling the consistent market volatility, saying that OPEC member “Iran has never had a role in the market instability”.   During a live radio interview, Zangeneh said certain oil-producing countries opposed lifting of sanctions on Iran right from the beginning and for ...

Iranian Minister of Petroleum Bijan Zangeneh said Iran has signed a deal with European customers for the export of 0.7 million barrels per day. “The European Union regards Iran as a creditable and reliable partner for energy supply,” said the Iranian official following a meeting with European Union Commissioner for Climate Action and Energy Miguel Arias Canete here in Tehran ...

A senior official with National Iranian Oil Company (NIOC) says the company is considering cooperation with Germany’s Wintershall in research and development (R&D) projects. Ali Kardor, NIOC’s deputy managing director for investment and finance, told Shana that Wintershall has indicated willingness to cooperate with NIOC in research and development areas and the two companies may start cooperation in the future. ...

The Iranian Offshore Oil Company (IOOC) signed 85 operation, development, construction, and service contracts last year (ended March 19) as 15 of contracting parties came from foreign entities, said an official of the firm. “Total value of the contracts was IRR 6,400 billion and 700 million euros based on 120 tender notices and 85 contracts with foreign and domestic parties,” ...

Petroleum Minister Bijan Zangeneh said the global oil market will stabilize in less than a year if major producers intervene. He made the comments following a meeting with Russian Energy Minister Alexander Novak here on Monday saying that the production freeze to stabilize the market will be the first step by the major producers from OPEC and non-OPEC countries. “It ...

Deputy of National Iranian Drilling Company announced, the company new heavy land rig has become operational and spudded its first well in Shadegan oil field located in Khozestan province. The new rotary rig Fath-91 is one of the most advanced and could be used in drilling exploration & description wells as deep as 18000 feet (6000 meters). It is also ...

Iran’s National Petrochemical Company (NPC) and the French energy Giant, Total, have signed a memorandum of understanding (MoU) to build a petrochemical complex in Iran. The MoU was signed during the visit of a high-profile delegation from Total to Iran last week. Accordingly, Total has agreed to initiate appraisal studies for construction of the project in Iran. The complex will ...

Managing Director of the National Iranian Oil Company (NIOC) Rokneddin Javadi said that Iran has increased its crude oil export to 1.8 million barrels a day. Speaking at a company meeting on Wednesday, he said that post-sanctions development will be the main item on the oil industry’s agenda during the Fifth Five-Year Economic Development Plan. He set the 4-billion-barrel output ...

National Iranian Drilling Company (NIDC) has drilled over 113km of earth at South Azadegan development project. Manouchehr Asadi, NIDC’s project manager, has said drilling projects at the oilfield, which Iran shares with neighboring Iraq, are 75% complete. NIDC has placed 8 drilling rigs in the region which have so far finished spudding 28 wells and are to drill another 8 ...