Iran Readying 14 Oil, Gas Exploration Tenders

EghtesadOnline: Iran is readying its first round of oil and gas exploration tenders since the easing of economic sanctions in Jan. 2016, hoping to attract the likes of BP and Gazprom, an Iranian energy official said on the sidelines of an energy industry conference in Istanbul, Turkey, on Monday.

News ID: ۷۴۲۶۷۳

11 July 2017

Sitting on some of the world's biggest energy reserves, Iran has already been working on deals to develop fields such as South Pars, South Azadegan, Yadavaran, West Karoun, Mansouri and Abteymour, Reuters reported.

France's Total last week became the first major to sign a post-sanctions development deal with Iran. Russia's Lukoil and Denmark's Maersk are also potential investors.

"Next on the horizon is the search for new oil, with the National Iranian Oil Company 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, said in Istanbul.

According to Financial Tribune, most of the new exploration blocks are in the Zagros, Koppeh Dagh and the Persian Gulf region and would require minimum exploration expenditure of between €14 million and €80 million.

The biggest exploration expenses are expected for Parsa and Bamdad blocks in the Persian Gulf, amounting to €80 million and €75 million respectively.

Nematollahi also said BP, Austria's OMV, Gazprom, Lukoil as well as Italy's Edison and Malaysia's Petronas have expressed interest in new exploration blocks.