Iran to Reveal 14 Oil, Gas Exploration Tenders

Iran to Reveal 14 Oil, Gas Exploration Tenders

Iran is planning to unveil its first round of oil and gas exploration tenders since the easing of economic sanctions. This step comes in the light of Iran’s strategy to attract International Oil Companies (IOCs), an Iranian energy official said, according to Reuters.

“The state National Oil Company (NIOC) is planning to tender 14 oil and gas blocks for exploration in the next two to three months,” NIOC’s Deputy Director for Exploration Blocks, Rahim Nematollahi, stated.

“BP, Austria’s OMV, Gazprom, Lukoil, as well as Italy’s Edison, and Malaysia’s Petronas have expressed interest in new exploration blocks,” Nematollahi added.

Having some of the world’s biggest oil and gas reserves, Iran has already been working on deals to develop existing fields such as South Pars, South Azadegan, Yadavaran, West Karoon, Mansuri, and Abe-Timur, Zawya informed.

Lately, France’s Total became the first IOC to sign a post-sanctions development deal with Iran. In addition, Russia’s Lukoil and Denmark’s Maersk are also potential investors in the country.

Dr. Mahinaz El-Baz 318 Posts

Mahinaz El Baz received her PhD degree in International Economics from Helwan University in 2022. She has +10 years of experience in journalism and economic analysis. She received the "Best Economic Article Award" in 2016 from CFA Society Egypt.


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