NIOC Company News
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$463MM Deal to Boost Iran Oil Field Output
Monday, July 13, 2020Iran's Persia Oil and Gas Industry Development Co. signed a $463 million agreement with state-run National Iranian Oil Co. to operate and further develop Yaran oil field.
Total, Shell, Eni Eligible to Bid for New Iran Oil, Gas Projects
Tuesday, January 03, 2017The National Iranian Oil Company (NIOC) revealed that several European oil and gas companies will be eligible to bid for the country's new oil and gas projects.
IRNA: NIOC Helicopter Crashes in Caspian Sea
Monday, November 28, 2016A helicopter working for the National Iranian Oil Company (NIOC) crashed in the Caspian Sea early Sunday, killing all five passengers on-board, according to Iran's Islamic Republic News Agency (IRNA).
Sources: India Set To Buy Iran Oil For Emergency Reserves
Tuesday, September 20, 2016India is set to buy 6 million barrels of Iranian crude for its strategic oil reserves as negotiations with the United Arab Emirates' national oil company for supplies are stuck over commercial terms, industry sources say.
NIOC: Iran Ready To Raise Oil Output To 4MMbpd Depending On Demand
Monday, September 05, 2016Iran is ready to raise its oil production to 4 million barrels per day (bpd) in the next 2 to 3 months depending on market demand, a senior official from the National Iranian Oil Company (NIOC) says.
Iran Likely to Grant Development of 2 Oil Fields to China's CNPC, Sinopec
Wednesday, August 24, 2016Iran is likely to grant the development of 2 major oil fields in the country's southwestern Khouzestan province to China's CNPC and Sinopec.
Gadfly: If Iran Opens Its Oil Sector, Will Saudi Arabia Be Next?
Monday, August 08, 2016Iran has taken a big step toward bringing foreign investors back into its oil and gas sector.
Indonesia's Pertamina Eyes 2 Iran Oilfields For Possible Investment
Monday, August 08, 2016Indonesia's state-owned Pertamina signs a memorandum of understanding to conduct preliminary studies on two Iranian oilfields, a step closer to the company's first investment in the Middle Eastern country's upstream sector.
Indonesia, Iran to Sign MOU Soon for Development of Iranian Oil, Gas Blocks
Monday, July 04, 2016Indonesia and Iran intend to sign a memorandum of understanding shortly for the former to assist in the development of Iranian oil and gas blocks.
Iran Names Oil Company Finance Boss To Top Post As Output Surges
Monday, June 13, 2016Iran appoints Ali Kardor to lead the state oil company, promoting him from the role of finance director as the country boosts crude output and seeks more than $100 billion in investment to revive its energy industry.
Oil Minister: Foreign Oil Companies To Settle Iran's Debt In Euros
Wednesday, February 10, 2016Iran's oil minister said foreign oil companies that owe his country billions of dollars are likely to settle their debts in euros.
Iran to Pay Oil Companies Larger Fees in 20-Year Contracts
Wednesday, October 21, 2015Iran will pay foreign oil companies larger fees than it did under previous buy-back contracts to attract $100 billion of investments needed to rebuild its energy industry.
Iran is Even More Tempting for Big Oil After the Price Slump
Thursday, October 15, 2015The world is awash with crude, but big oil companies are lining up to develop new fields in Iran even as they slash spending and abandon exploration elsewhere. One thing explains this paradox: cost.
Shell Executives Visit Tehran for Projects If Sanctions End
Thursday, June 25, 2015Shell executives have visited Tehran to discuss possible partnerships, the latest sign that the largest oil companies are serious about returning to Iran once a deal on the country’s nuclear program is done.
Iran Seeks to Mend Fences with Chinese Oil Firms to Get Projects Going
Thursday, April 09, 2015Iran hopes to resolve differences with Chinese energy companies on oil and gas projects in the Islamic republic, as Tehran wants to be ready to raise output quickly after a potential lifting of sanctions this year, Iranian oil officials say.
Iran Oil Officials in Beijing to Discuss Oil Supplies, Projects
Tuesday, April 07, 2015An Iranian delegation is in Beijing this week to push for more oil sales and discuss Chinese oil and gas investments in Iran, just days after Tehran and world powers reached a framework nuclear deal, Iranian oil officials says.
Iran to Tender Oil, Gas Projects for Investment
Monday, August 04, 2008The National Iranian Oil Company will present 15 industry project packages to the global financial markets for investment by holding national and international tenders.
Gazprom Visits Iran to Strengthen O&G Ties, Inks MOU
Monday, July 14, 2008A delegation for Gazprom met with the Iranian Oil Minister and Managing Director of NIOC to discuss a mutually beneficial long-term partnership between Gazprom and Iran. A MOU was signed between the parties to create a JV to implement O&G projects.
OMV and Iran Ink Deal for South Pars Gas Field
Monday, April 23, 2007OMV has signed an agreement with NIOC regarding participation South Pars Field phase 12, a liquefaction plant for Liquefied Natural Gas (Iran LNG) and a subscriber agreement for Liquefied Natural Gas (LNG).
Total Issues Clarification on South Pars Inquiry
Wednesday, March 21, 2007Total believes it is important to clarify the Group's position with regards to the ongoing French judicial inquiry into the company's activities in Iran opened in December 2006 around the South Pars project signed in 1997 between Total and NIOC.
Petrobras to Invest $470M in Iran's Caspian Sea
Tuesday, March 06, 2007Petrobras will sign a $470 million contract with Iran to develop Caspian Sea oil reserves, the Iranian Oil Ministry's information network, Shana, said on its Web site Tuesday.
GPS Plans to Join AIM with Float
Monday, January 15, 2007GPS Group Limited said that it plans to join the AIM market of the London Stock Exchange and raise new funds by way of a proposed placing of new shares.
National Iranian Oil Co, Malaysia SKS Sign Gas Deal
Sunday, January 07, 2007The National Iranian Oil Co. signed a $20 billion memorandum of understanding based on the buyback plan with Malaysia's SKS Ventures on the development of the offshore Golshan and Ferdows gas fields in the Persian Gulf.
Iran to Test First Locally Built Semisub
Wednesday, December 27, 2006Iran will test its first locally constructed semisub, Iran Alborz, in the Caspian Sea in the first half of the next Iranian calendar year (starting March 21, 2007), said an official of the National Iran Oil Company (NIOC) Friday afternoon.
Iran Signs $300M Contract on Azadegan--Ministry
Wednesday, December 13, 2006Iran has taken the development of the onshore Azadegan oil field one step further by signing a $300 million drilling contract to demonstrate that it can do the job on its own, the Oil Ministry's information network reported Tuesday.
Iran to Announce Changes in Oil Buyback Scheme
Wednesday, November 01, 2006Iran will announce the outcome of changes in the controversial buyback scheme used in oil development contracts next week, a senior Iranian oil official said Wednesday.
Iran, China in Talks Over North Pars Gas Field -Ministry
Tuesday, October 31, 2006Iran's state-owned National Iranian Oil Co., or NIOC, is currently in negotiations with China National Offshore Oil Co., or CNOOC, on the development of the offshore North Pars gas field in the Persian Gulf.
Iran Parliament Hopes Inpex Opts Out of Azadegan
Monday, September 11, 2006The chairman of the Iranian Parliament's energy commission said that lawmakers hoped Inpex would withdraw from developing the Iran's giant Azadegan field, adding the company has until the end of this month to decide on its future involvement.
GSP: Fortuna Arrives in UAE
Wednesday, August 16, 2006Grup Servicii Petroliere s.a. (GSP), a Constanta, Romania-based drilling and oilfield services company, on Wednesday said that its Fortuna jackup rig is now in the harbor of Sharjah, UAE.
Lukoil Oil Makes Discovery on Anaran Block in Iran
Monday, December 12, 2005A major discovery was made on the Anaran exploration block in west Iran, which could become one of the most significant oil finds over the past several years.
Norsk Hydro CEO Says, Anaran Deal May Be Signed in 2H 2005
Wednesday, July 27, 2005Norsk Hydro may sign a contract with the National Iranian Oil Co. in the second half of this year to develop the Anaran oil discovery
Thai, Chinese Firms Sign Deals to Develop Iran Oil Fields
Monday, June 13, 2005The National Iranian Oil Co. has signed buyback contracts with Thai and Chinese companies on the exploration and development of the offshore Saveh and Kouh-Dasht oil blocks in northern and western parts of the country, an Iranian Oil Ministry official said Saturday at a press briefing.
PTTEP Granted Exploration License in Iran
Friday, April 29, 2005PTTEP will sign a deal with NIOC to become the operator and have a 100% stake in the Petroleum Exploration and Development Project of Saveh Block.
Total Concludes Pars LNG Deal with NIOC
Tuesday, December 07, 2004Total has concluded an agreement with the National Iranian Oil Company setting the framework of the future Pars Liquefied Natural Gas project and its main commercial terms.
Repsol Signs $39 Million Iran Oil Exploration Contract
Thursday, October 14, 2004Repsol YPF signed an exploration contract worth up to $39 million with the National Iranian Oil Co. for two oil blocks in the Persian Gulf.
Drilling Operations Commence at Shanol Field in Iran
Tuesday, September 28, 2004The first well has been drilled in Shanol gas field, south of Fars Province, to mark the starting point of new development on the field.
NIOC Making Exploration Plans for Kish Island
Thursday, July 29, 2004The NIOC is making plans to explore the area around Kish Island.
Iran to Hold Tender on 16 Oil Blocks in Hague
Monday, January 26, 2004The National Iranian Oil Co. will put on international tender the exploration and development of 16 newly-defined oil blocks during a two-day conference later this week (January 28-29) in the Hague, Netherlands.
Total Hands Over Operatorship of Balal to NIOC
Tuesday, September 16, 2003Total says that the Balal field offshore Iran has reached a production level of 40,000 bpd and the operatorship of the platform has been transferred to the National Iranian Oil Company.
Japan Drilling Wins South Pars Contract
Monday, May 19, 2003National Iranian Oil Company and Japan Drilling Co. Ltd. have signed a drilling contract for South Pars gas field.
NIOC Signs Contract Extensions for Oil & Gas Fields
Monday, April 21, 2003National Iranian Oil Company intends to sign contracts ranging between 5-7 billion dollars on expansion of oil and gas fields this year.