Iran plans 14 oil and gas exploration tenders in 2-3 months

Iran is preparing to announce over the next three month its first round of oil and gas exploration tenders since the easing of economic sanctions, an Iranian energy official said according to Reuters. With some of the world’s biggest energy reserves, Iran has already been working on deals to develop existing fields such as South […]

Iran signs $2 billion gas deal with France’s Total

The project will have a production capacity of 2 billion cubic feet per day or 400,000 barrels of oil equivalent per day including condensate. The produced gas will supply the Iranian domestic market starting in 2021, Total said in a statement. This contract, which has a 20-year duration, is the first Iranian Petroleum Contract (IPC) […]

Iran and South Korea sign co-development deal for small LNG units

Iran and South Korea signed a deal to jointly develop small liquefied natural gas units, while cooperating on technology, officials said. The four-year deal includes developing the technical savvy needed for the construction of ISO containers for LNG units by consortiums from Iran and S. Korea, Saeid Pakseresht, director of research and technology at the […]

Gazprom Neft and OMV agree on joint work for Iranian oil and gas projects

Russia’s Gazprom Neft and Austria’s OMV signed a memorandum of understanding for working together on Iran’s oil and gas projects. Preliminary possible spheres of cooperation include analysis, assessment and study of certain oil deposits located in the territory of the Islamic Republic of Iran in cooperation with the National Iranian Oil Company (NIOC), according to […]

Iran signs $630 mln pipes contract with Spain’s Tubacex

Iran’s state oil firm signed a contract with Spain’s Tubacex-led consortium worth about $630 million to buy 600km of corrosion resistant alloy (CRA) pipes for its oil projects. National Iranian Oil Company (NIOC) signed the deal also with Iran’s Foolad Isfahan company which will take over production of the pipes completely within three years for […]

Itochu Corporation signs further petrochemical deal in Iran

Japan’s Itochu Corporation signed a deal to purchase 11,000 tons of polyethylene per month from the Persian Gulf Petrochemical Industries Company (PGPIC). The deal was signed on the sidelines of an oil event taking place in Tehran, the oil ministry’s news agency SHANA reported. The deal is worth US$150 million a year and the polyethylene shipments […]

VW Working on Gas-Powered Vehicles for Iran

German car maker Volkswagen (VW) is reportedly pursuing plans to manufacture vehicles in Iran that will be optimized to run on compressed natural gas (CNG). This week representatives of Volkswagen took samples of the fuel in Tehran, Ahvaz, Isfahan, Shiraz, Mashhad and Tabriz “as part of plans to produce natural gas vehicles for the Iranian […]

Gazprom and Iran’s state oil firm sign initial agreement for E&P in Iran

  Gazprom and National Iranian Oil Company (NIOC) signed a memorandum of understanding in Moscow for hydrocarbon exploration and production within Iran, the Russian gas giant said. Gazprom, which says it holds the world’s largest natural gas reserves, with a 17 per cent share in global reserves and 72 per cent in Russian reserves, said […]

Korea’s Hyundai Engineering signs $3.2bln Iran deal

South Korea’s Hyundai Engineering Company (HEC) has signed a €3 billion (US$3.2 billion) contract with Iran’s Ahdaf Investment Company for construction of the second phase of Kangan Petro Refining facility in Iran’s southwestern Bushehr province. The deal agreed was based on an Engineering, Procurement, Construction and Financing (EPCF) basis “The financing of this project will be […]

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