Economy of Resistance: Production and Job Creation
2018 22 April Fa

OIL NEWS ARCHIVE

South Yaran Oil Production Pass 1 mln bpd

15 / 04 / 2018

TEHRAN (PEDEC) _ Currently, the early production of oil from 6 wells, drilled in the southwestern oilfield of Sarvak Formation, is more than 10,000 barrels per day and the cumulative production of the field has so far passed the 1 million barrel limit. Homayoun Kazemini, head of the South Yaran Oil Field Development plan, said […]

Azar Output to Hit 65,000 b/d

10 / 03 / 2018

TEHRAN (PEDEC) _ Early production from Azar oil field started last March. The output of this jointly owned field currently stands at 30,000 b/d. Kayvan Yar-Ahmadi, manager of Azar development project, says completion of newly drilled wells in this field will bring production to 60,000 b/d this March. He says the output is expected to […]

Jask to become one of Iran’s main oil terminals

27 / 02 / 2018

TEHRAN (PEDEC) _ The 46-inch transmission pipeline, which is about 1,000 kilometers long, will start from the city of Deilam in Gurra and end after passing through Fars province in Hormozgan province (Jask), managing director of Petroleum Enginnering and Development Co. (PEDEC) stated. Highlighting the significance of crude oil transfer to Jask and constructing export […]

Yadavaran Oil Output Set to Soar

14 / 02 / 2018

TEHRAN (PEDEC) _ Yadavaran oil field is the only joint field in Iran, where Iran is outperforming Iraq with which it shares the field. More than a year after the first phase of this field came online; Iran is recovering 110 tb/d of oil from Yadavaran, which is expected to reach 115 tb/d in March. […]

Talks on Azar development are carried out

06 / 02 / 2018

TEHRAN (PEDEC) _ The CEO and chairman of the board of directors of Petroleum Engineering and Development Company announced the continuation of negotiations with a consortium of an Iranian and a Russian firm to develop Azar oil field. Sayed Nouraldin Shahnazizadeh stated that the development of Azar oil field will be in two steps as […]

Three oilfields contracts will be finalized by the end of Iranian calendar year

30 / 01 / 2018

TEHRAN (PEDEC) _ Managing director of National Iranian Oil Company (NIOC) said Mansouri oilfield contract was finalized by the first half of March and two companies were selected for the development plan. Ali Karder referred to the latest status of the contracts of the National Oil Company and said the contract for Mansouri oilfield will […]

Daily production of 10,000 barrels from South Yaran stabilized

08 / 01 / 2018

Daily production of 10,000 barrels from South Yaran stabilized TEHRAN (PEDEC) _ Executive manager of South Yaran development plan stated: “currently 10,000 barrels of oil are produced per day out of 6 wells in the field, and drilling, driving courses of 12 pipe wells are also ready for completion, and there is also pipeline installation […]

Iran-Iraq Oil Swap Deal To Run For a Year

12 / 12 / 2017

TEHRAN (PEDEC) _ Iraqi Oil Minister Jabar al-Luaibi said on Sunday that a deal signed with Tehran to swap up to 60,000 barrels per day of crude produced from the northern Iraqi Kirkuk oilfield for Iranian oil is for one year and subject to renewal. The agreement signed on Friday by the two OPEC countries […]

Iran signs oil swap deal with Iraq soon

03 / 12 / 2017

TEHRAN (PEDEC) _ Iran expects to sign a contract with Iraq within the next few days based on which it would swap the country’s oil produced in its Kirkuk province with equal amounts in the Persian Gulf. The announcement was made by Iran’s Petroleum Minister Bijan Zangeneh who said the agreement would be a strategic […]

US firms are the biggest losers from sanctions: Official

02 / 12 / 2017

TEHRAN (PEDEC) _ Iranian oil minister declared that energy-related firms from the U.S. are the main losers from the sanctions placed against his country. Speaking at the OPEC meeting in Vienna Thursday, Iran’s Oil Minister Bijan Zangeneh, said the policy was both confusing and self-defeating. “I don’t understand why U.S. companies cannot enter the Iranian […]

Majority of OPEC members support extending oil output cuts: Minister

21 / 11 / 2017

TEHRAN (PEDEC) – Iran’s oil minister said on Monday that a majority of OPEC members support extending output cuts but a final decision will be taken at their next meeting on Nov. 30. The Organization of the Petroleum Exporting Countries together with a group of non-OPEC producers led by Russia has reduced output since January […]

Merely UNSC sanctions can be able to force Total out: Minister

20 / 11 / 2017

TEHRAN – (PEDEC) – Irans petroleum minister has stated that French energy giant Total – that has won a deal to develop a key gas project in the country – can quit only if forced to do so as a result of sanctions by the UN Security Council. Bijan Zanganeh said that deal determined the […]

NIOC, Gazprom sign LNG deal

11 / 11 / 2017

TEHRAN (PEDEC) – Russia’s gas giant, Gazprom signed a initial agreement with the National Iranian Oil Company (NIOC) that visualizes cooperation over the production of liquefied natural gas (LNG). As the official website of Gazprom announced, this would be part of a larger plan for cooperation that concentrates on the development of Iran’s gas fields […]

Total to conform to any US sanctions on Iran: CEO

05 / 11 / 2017

TEHRAN (PEDEC) – Total has opened an office in Washington to coordinate its operations in Iran where the French oil and gas major plans to develop Phase 11 of the giant South Pars gas field. On Thursday, Total CEO Patrick Pouyanne stated that his company would comply with any sanctions on Iran. Iranian officials, he […]

Asian imports of Iranian oil hit highest in six months

01 / 11 / 2017

TEHRAN (PEDEC) – Imports of Iranian crude by major buyers in Asia rose in September for a third straight month to their highest since March, boosted by a surge in purchases in China and South Korea. China, India, South Korea and Japan imported slightly more than 1.9 million barrels per day (bpd) last month, up […]