According to the Department of Engineering, Research and Technology of the Iranian Ministry of Petroleum, regarding the tasks foreseen in Articles 4 and 6 of the Council of Ministers Resolution on the general conditions, structure and pattern of upstream oil and gas contracts, and according to the expiration of the activity license validity of the companies on the list of the Ministry of Petroleum to participate in the contracts for the exploration, development and production of oil and gas fields as Iranian exploration and production (E&P) companies, the department has released a new list of the companies applying for E&P projects.

After conclusion of the evaluation process and issuing a call in August, relevant documents were received from 38 applicant companies, and after vetting their credentials by the specialized working group, the qualification of 17 companies and two ventures consisting of level-1 companies, eight level-2 companies and four level-3 companies/ventures were confirmed whose list and particulars can be accessed and viewed here.

Based on the approved evaluation criteria, level 1 E&P companies can participate in projects with an estimated direct investment ceiling of up to $12 billion, while level 2 and 3 firms can join projects with an estimated direct investment ceiling of up to $6 billion and $2.5 billion, respectively.

This list is only a preliminary confirmation of the capacity and ability of the companies to participate in the contracts for the development and exploitation of oil and gas fields, and in the process of handing over the plans, according to the conditions and characteristics of the fields in question, the National Iranian Oil Company carries out the necessary technical and specialized evaluations.