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152-ton Topside of Forouzan Offshore Platform Installed
TEHRAN (Shana) – The Iranian Offshore Oil Company (IOOC) has installed the QB Topside of Forouzan offshore oil field weighing 152 tons on the QA floor of this platform.
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New Gas Hub in Northern Iran
TEHRAN (Shana) -- Central Asian and European demand for gas has broadened the horizons for development of Iran's exploration blocks in the Caspian Sea. “Chalous Superstructure Drilling and Exploration” project has been assigned to Khazar Exploration and Production Company (KEPCO) with a view to forming a new gas hub in northern Iran. According to Ali Osouli, CEO of KEPCO, if the initial estimates are confirmed and exploration success is achieved in the Chalous structure, the Iranian sector of the Caspian Sea will play a significant role in gas exports to Europe in the near future, in which case Iran's new gas hub will be formed in the north to let Iran supply 20% of Europe's gas needs from this region.
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Sustainable Storage in Jask Terminal
TEHRAN (Shana) -- Among numerous contracts signed regarding the national project for transferring crude oil from Goreh to Jask, one should be highlighted: contract for the construction of crude oil storage tanks. These build-operate-transfer (BOT) agreements were signed in November 2018 between Petroleum Engineering and Development Company (PEDEC) and Petro Omid Asia (POA) and Omid Investment Management Group.
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Jask Diversifying Iran Oil Export Markets
TEHRAN (Shana) -- The first phase of implementation of crude oil export from Jask Port is starting against the backdrop of Iranian officials realizing their dream of diversity in the crude oil export markets, as well as security of energy supply in Iran. The idea of construction of an oil terminal in Jask was first brought up in 1980s, but the project started under the administration of President Hassan Rouhani. To that effect, necessary planning was made and meetings were held. Since domestic manufacturers could not build some equipment and commodities in the country, they were planned to be purchased from foreign companies. The foreign firms did not keep their promises and once the US re-imposed sanctions on Iran in 2018, foreign firms quitted any cooperation with Iran.
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Iran Petroleum Industry Book Review
TEHRAN (Shana) -- The present piece of writing reviews major books written on the history of Iran’s petroleum industry.
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Petroleum Industry Innotech Park Launched
TEHRAN (Shana) -- The Petroleum Industry Innotech Park, which has been established under the aegis of the Petroleum Ministry with a view to developing technology and broadening constructive cooperation between the players of innovation and technology ecosystems, has started work. The ceremony for the inauguration of the park was attended by Minister of Petroleum Bijan Zangeneh, Vice President for Science and Technology Sourena Sattari and a group of senior oil industry managers and research and technology actors.
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NIOC Launches Monitoring Center
TEHRAN (Shana) -- The monitoring center of the National Iranian Oil Company (NIOC), which was established with the aim of collecting, aggregating and displaying online and continuous data on production, domestic distribution and foreign trade of oil, gas, gas condensate, gaseous liquids and naphtha, has been launched officially.
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Iran President hosts Meeting with OPEC Secretary General
TEHRAN (Shana) -- Iranian President Ebrahim Raeisi received the secretary general of the Organization of the Petroleum Exporting Countries (OPEC), Mohammad Sanusi Barkindo, in Tehran on Friday.
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Zangeneh Voices Iran Full Readiness to Return to Oil Market
TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh announced the country’s full technical readiness to return to the global crude oil markets at the highest level after the political agreement and the lifting of the sanctions.
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OPEC Secretary General to visit Tehran for Inauguration Ceremony
TEHRAN (Shana) -- The Iranian ambassador to Nigeria announced the visit of Mohammad Sanusi Barkindo, Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), to Tehran to attend the inauguration of the President.
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Iran Launches Major Projects in South Pars
TEHRAN (Shana) – Iranian President Hassan Rouhani inaugurated several major gas projects.
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Iran Invests $2.5b in South Pars Phase 14 Offshore Section
TEHRAN (Shana) -- The operator of the South Pars Phase 14 development project said an investment of $2.5 billion was made in the project so far, adding the first gas sweetening train of the project’s refinery would come online soon.
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Oil-Rich Aghajari, a Gem in Khuzestan
TEHRAN (Shana) -- Iran’s petroleum industry was born in Masjed Soleiman in southern Iran, but Khuzestan gradually as a whole became a focal point of oil industry in Iran and in the Middle East. Each and every spot in this province is filled with massive wealth that would guarantee the future of Iran.
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South Pars Development Seen Foiling Sanctions
TEHRAN (Shana) -- Despite President Joe Biden taking office in the United States, Iran’s petroleum industry is still unable to sell crude oil as much as its market share due to the toughest ever financial and banking sanctions his predecessor Donald Trump imposed on Iran in 2018 after quitting the 2015 nuclear deal. Meantime, the coronavirus pandemic has left serious negative impacts on the market. And the petroleum industry has automatically not been spared over years. The petroleum industry definitely needs investment and technology.
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Local E&P Firms to Study Azadegan Field
TEHRAN (Shana) -- The giant Azadegan oil field, estimated to hold 32 billion barrels of oil in place, has already been developed in two sections – North Azadegan and South Azadegan. The field is currently supplying 215,000 b/d of oil.
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Investment Opportunities in Bangestan
TEHRAN (Shana) -- More than 60% of Iran’s oil production comes from 10 giant fields, all of which having reached maturity. Lack of investment for many years in order to enhance the rate of recovery has enhanced production risk. However, there is great potential for enhanced production from these fields. A case in point pertains to the Ab Teimour and Ahvaz Bangestan oil fields. They were discovered more than 50 years ago and they are still supplying oil.
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Danan, Cheshmeh-Khosh, Susangerd Attractive to Investors
TEHRAN (Shana) -- Sanctions have failed to halt Iran’s petroleum industry activities. However, developing the industry in Iran would need foreign investment and cutting edge technology to raise output. Over recent years, in the absence of foreign companies, local contractors have moved to develop oil and gas fields.
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NISOC Proceeds with Green Development
TEHRAN (Shana) -- CEO of National Iranian South Oil Company (NISOC) Ahmad Mohammadi has said sustainable and continuous production, supply of refinery feedstock and providing oil for exports were among the major achievements of the company. In an interview with "Iran Petroleum", he also said that NISOC was ready to lift output from its oil fields as soon as sanctions are lifted. NISOC supplies 80% of Iran’s oil production.
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Jask Oil Export Terminal Fully Operational by March 2022
TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said the Jask terminal and the Goreh-Jask oil pipeline would be fully operational by March 2022.
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Iran Opens Oil Export Terminal beyond Strait of Hormuz
TEHRAN (Shana) – Iran has just launched a new export terminal in Jask, Hormuzgan Province, south of Iran, which can receive up to 1 mbd of crude oil from a massive pipeline from Goreh, Bushehr Province. The terminal is built to allow Iran export its crude oil beyond Strait of Hormuz.
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Iran to Export 1st Oil Shipment from Jask on July 22
TEHRAN (Shana) -- The CEO of the National Iranian Oil Company (NIOC) said loading and export operation of the first shipment of Iranian crude oil from Jask and the Sea of Oman will be carried out on July 22 by the presidential order.
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Crude Oil Loading to begin at Jask Terminal in Days
TEHRAN (Shana) – A senior official with the National Iranian Oil Company (NIOC) said that the crude oil in the Goreh-Jask pipeline will reach the Jask terminal in about 20 kilometers and “we expect the first shipment of crude oil to be loaded by the end of the week.”
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Zangeneh: High Oil Prices Will not Benefit OPEC+ in the long run
TEHRAN (Shana) -- Iran’s Minister of Petroleum, Bijan Zangeneh, said the decision made during OPEC Plus meeting today will not increase oil prices, adding high prices will not work to the group’s advantage in the long run.
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19th OPEC+ Ministerial Meeting Concludes
TEHRAN (Shana) -- The 19th OPEC and non-OPEC Ministerial Meeting was held via video conference on Sunday July 18, 2021, under the Chairmanship of Prince Abdul Aziz bin Salman, Saudi Arabia’s Minister of Energy, and Co-Chair Alexander Novak, Russia’s Deputy Prime Minister.
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Countdown Begins for 1st Crude Oil Export from Jask Terminal
TEHRAN (Shana) -- The Deputy National Iranian Oil Company (NIOC) CEO for Development and Engineering Affairs announced: “Due to the completion of the strategic and national plan for the transfer of crude oil from Goreh to Jask, the first shipment of crude oil will be exported from the Jask terminal in the coming few days.”
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OPEC+ Agrees Additional Increase of 400,000 bpd Monthly
TEHRAN (SHANA) – The Organization of the Petroleum Exporting Countries and its allies reached a compromise on Sunday on an overall increase of crude oil output by 400,000 bpd per month to December 2022, as well as a baseline change for five countries.
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19th OPEC+ Meeting Starts
TEHRAN (Shana) -- The 19th meeting of oil and energy ministers of members and non-members of the Organization of the Petroleum Exporting Countries (OPEC), known as the OPEC+, began a few minutes ago via video conference.
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Iran to Launch Goreh-Jask National Oil Pipeline
TEHRAN (Shana) -- The CEO of the National Iranian Oil Company, pointing out that the oil injection was done in the direction of the Goreh-Jask strategic oil transfer plan, adding: "This huge plan will be officially launched in the coming days."
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No-Flaring in Cheshmeh-Khosh Expected This Year
TEHRAN (Shana) -- The Iranian Central Oil Fields Company (ICOFC) assigned to a domestic company a project for gathering flare gas at the Cheshmeh-Khosh oil field. Under this agreement, 67 mcf/d of associated petroleum gas would be gathered over six months.
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1st Well of Nasr 5 Satellite Platform Online
TEHRAN (Shana) -- The first well of Nasr 5 Satellite Platform, called Well SICE6, has come online to increase crude oil production in Sivand and Esfand fields.