The National Iranian South Oil Company has signed its first non-disclosure agreement (NDA) with a consortium of international companies, known as Pergas, for carrying out studies over two oilfields in Iran. The consortium comprises 11 European, Canadian and Asian firms as well as the Sharif University of Technology and has signed the NDA for holding…
Global energy giant British Petroleum (BP) has reportedly started a serious push to look into the prospects for making post-sanctions investments in Iran’s oil industry. Reuters said in a report that BP has formed a special task force to study Iran’s oil industry investment potentials in what could be a fresh sign of the growing…
By: Maryam Azish/ Iran’s petroleum industry is considered as the main generator for national economy following the implementation of Iran’s nuclear agreement with 5+1, known as the Joint Comprehensive Plan of Action (JCPOA). Energy plays a pivotal role to provide financial resources for Iranian public services and the industrial sector and the deal has paved…
An IOOC official said volume of Iran’s crude oil production capacity in the Persian Gulf has risen by 10 thousand barrels. Describing new plans to boost crude output in the Persian Gulf, Technical Director of Iranian Offshore Oil Company (IOOC) Manoochehr Davoodi said given the overhaul of a number of offshore wells in Ilam platform…
Slovenian counterpart Borut Pahor was officially welcomed by Iranian President Hassan Rouhani on a snowy Tuesday in Tehran. Pahor’s visit seeks to hold a number of economic and political meetings with Iranian high-ranking officials. In the official ceremony, after the national anthems of both countries being played, the two presidents reviewed the honour guards and…
A consortium of Indian companies led by ONGC Videsh (OVL) is set to strike a deal with Iran by January for the development of Farzad-B gas field in the Persian Gulf. Iran to become the biggest oil supplier to India This comes at a time when Iran surpassed Saudi Arabia to become the biggest oil…
A top Iranian trade official says the volume of foreign investments in the country is expected to increase by six times until next March to reach around $12 billion. Feriyal Mostofi, a member of Tehran Chamber of Commerce, told reporters that foreign investments in Iran for each Persian calendar year (starting 21 March) stood at…
The Lloyd’s of London insurance market has announced plans to launch offices in Iran – a move that could help the country’s efforts to open its economy to post-sanctions investments. Inga Beale, the CEO of the world’s leading specialty insurer, was quoted by Iran’s domestic media as saying that Lloyd’s of London would establish branches…
The 8th Iran Air Show aiming at presenting aviation and aerospace industries capabilities and introducing the latest aviation achievements and technologies started work on Nov 16 in the Persian Gulf Kish Island. The opening ceremony of the event was held in the presence of Iran’s Defense Minister Brigadier General Hossein Dehqan, Head of Civil Aviation…
IOEC managing director has reported on Iran’s plans to take part in offshore oil projects in Europe and Africa. Managing director of the Iranian Offshore Engineering and Construction Company (IOEC) Abolghasem Rahmani touched upon partnership with foreign firms for exports of technical and engineering services adding “Iran’s unique and precious experiences in offshore oil projects…
