Iran says a host of European giants are bidding for the development of its South Azadegan oil field – which was once considered as the world’s biggest oil find after it was discovered over 15 years ago. Nouroddin Shahnazizadeh, the managing director of the Petroleum Development and Engineering Company of Iran, told the domestic media…
An oil official said once production volume at South Azadegan reaches 160 thousand barrels per day (bpd), West Karun joint fields will bring a revenue of 2.5 million dollars. Majid Najarian, deputy project director for development of South Azadegan oilfield, said 565 million dollars were invested over three years to increase output of North Azadegan…
NIOC and Malaysia’s PETRONAS (Petroliam Nasional Berhad) will ink an MoU this week on development of Cheshmeh Khosh and South Azadegan oilfields. Following the inking of Memoranda of Understanding (MoUs) for conducting developmental studies in Azadegan oil field with France’s Total, Britain’s Royal Dutch Shell and Inpex Corporation of Japan, a cooperation agreement will be…
Iranian oil minister has announced that Russia’s Lukoil is seeking to launch crude oil swap with Iran. On cooperation between Tehran and Moscow over oil swap projects, Bijan Zanganeh said no talks were conducted in this regard during the recent visit to Iran of Russian Energy Minister Alexander Novak though relevant negotiations are underway with…
Drilling operations on 40 oil wells in South Azadegan oilfield have shown 91 percent progress, said director of the South Azadegan oilfield drilling project in National Iranian Drilling Company (NIDC). Manouchehr Assadi said his company had drilled more than 140,000 meters as part of the operations to drill 40 wells, Fars News Agency reported. Eight…
President Hassan Rouhani launched the first phase production at three fields in the oil-rich Khuzestan Province, bringing its total crude output closer to pre-sanctions levels. “Oil production west of Karun must reach one million barrels per day,” Rouhani said on Sunday, referring to the North Azadegan, Yadavaran and North Yaran fields. “This is a realistic…
Iran said on Sunday it will soon sign six agreements with international energy giants over the development of its oil sector projects. Gholam-Reza Manouchehri, the deputy for engineering and development affairs of the National Iranian Oil Company (NIOC), specified neither the companies nor the projects. Nevertheless, he did indicate that the projects were large scale….
Iran Oil minister has said contractor companies would only receive agreed amounts if they increase the recovery rate in Iranian oil fields. Bijan Namdar Zanganeh told the press on Tuesday morning that at least $100bn in investment were required to revive the industry to fresh conditions where Iran’s excavation companies would provide services to other…
