Gulf Oil and Gas accountACCOUNT

1st European Company Inks Deal to Explore Oil, Gas in Iran

Source: www.gulfoilandgas.com 12/31/2014, Location: Asia

Share |
National Iranian Oil Company announced signing of an agreement with a European company to start the new oil and gas discoveries in Iranís Salt Domes.

Although Iran talks with the 5+1 have not yet led to a final agreement, European companies have begun negotiations with Iran ot exploit advantages of its high oil and gas reserve.

Following the negotiations and correspondence between the National Iranian Oil Company (NIOC) and Italyís Eni S.p.A Oil and Gas Company as well as Russias LUKOIL, the first oil and gas exploration contract was signed with a European company.

Currently, Iran holds the largest hydrocarbon reserves in the world with 157 billion barrels of crude oil and over 34 trillion cubic meters of natural gas reserves. Based on the former estimates, Iran has crude oil and natural gas for production and export up to at least 50 and 80 years respectively, without any new discoveries.

NIOC exploration director Hormoz Ghalavand announced signing of a contract with a European company to carry out exploration activities in the Salt Domes.

He reiterated that the exploration activities in the Salt Domes will be carried out by the European international company.

The official reminded that in addition to oil and gas exploration project in Salt Domes, negotiations has been made with the European company for technology transfer. "On the other hand, NIOC Board of Directors has issued approval of the cooperation with the European company," Ghalavand said.

In a recent interview with reporters, Ghalavand announced negotiations with 18 international companies to sign contracts on oil and gas exploration and development in 40 new exploration blocks.

Earlier, NIOC had also announced that Iran has ranked first in the world on new discoveries of oil and gas, especially in recent years.

According to OPEC official report, Iran upgraded its rank to third place in the world after Saudi Arabia and Venezuela.

For more information about related Opportunities and Key Players visit Caspian Region Projects

Acquisitions and Divestitures News in Iran >>

United Kingdom >>  1/18/2018 - Ithaca Energy Inc. (Ithaca) announces that it has entered into an agreement for the sale of its entire interest in Licences PL089, P534 and PEDL 328, ...
Norway >>  1/16/2018 - In connection with the Award in Predefined Areas (APA) for 2017 Statoil has been offered interests in 31 exploration licences on the Norwegian contine...

Norway >>  1/16/2018 - The Norwegian Ministry of Petroleum and Energy offers the industry 75 production licenses on the Norwegian continental shelf in the Award in Pre-Defin...
Norway >>  1/16/2018 - Faroe Petroleum, the independent oil and gas company focussing principally on exploration, appraisal and production opportunities in Norway and the UK...

Norway >>  1/16/2018 - The Norwegian Ministry of Petroleum and Energy has awarded five new licenses to DEA in this yearís APA round. DEAís Exploration Manager Svend Erik Pet...
United Kingdom >>  1/16/2018 - United Oil & Gas, the London Stock Exchange listed oil and gas exploration and development company, has announced an agreement to farm-in to the Coral...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Iran Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 |

More News

 

Oil & Gas Companies in Iran >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.