Iran's energy sector review

Halving Iranian gas export to Turkey amid rising Ankara-Russia tensions happened, but unlikely due to political motivations. Iran announced Dec.9 that it has boosted its gas flow to neighboring Turkey after a period of low supply. Turkish media had reported earlier that Iran halved gas supply to Turkey to 15 million cubic meters per day. There have been worries that over recent political tensions with Turkey, Iran might tend to lower the gas supply. However, Dispatching Director of the National Iranian Gas Company Manouchehr Taheri said the boost came after a technical problem with the supply facilities was fixed. He said two days earlier, the gas flow to Turkey fell to about half of the mentioned amount due to a problem with one of the compressors. Iran has been saying it is in possession of documents that show Ankara having a hand in the looting of Syrian and Iraqi oil by the terrorist organization “Islamic State” (IS). Turkey is in tough footing with another major ene

The Managing Director of the Iranian Offshore Oil Company (IOOC) Saeid Hafezi announced Dec.8 that the company's priorities are to sign an agreement with foreigners on development of Salman and Foroozan in framework of new designed agreement called Iran Petroleum Contract (IPC). IOOC's major goals are improving the recovery rate as well as protective production, Hafezi told the Shana Iranian news agency. During last month, Tehran hosted 137 companies from 45 countries for a two-day conference, during which legal generalities of IPC were introduced. Iran has offered 50 hydrocarbon fields, including 21 gas fields. IOOC has offered 5 oil fields, with more than 37 billion stock tank barrels as well as 2 gas fields with about 17 trillion cubic feet of gas reserves in framework of IPC to foreigners. Oil reserves of these fields share about 18 percent of total reserves, (29 oil fields with 210 billion stock tank barrels reservoirs), offered in framework of Iran Petroleu

By Dalga Khatinoglu During last month Tehran hosted 137 companies from 45 countries for a two-day conference, during which legal generalities of Iran’s new model of oil and gas contract (Iran Petroleum Contract, or IPC) were introduced. More details about the contracts will be unveiled at a conference likely to be held in London in February 2016. The legal generalities of the IPC show that it covers a package for all exploration, development, and production stages in many of the fields. Moreover, the parties will hold a stake in the output for more than two decades. The Iranian Oil Ministry will announce details about the terms and conditions of each oil and gas field within related tenders for foreign companies. Here are 16 facts about 21 gas and 29 oil fields, proposed for foreigners to take part in them, based on the IPC: 1 - Iran has offered 50 hydrocarbon fields, including 21 gas fields, of which 6 are offshore gas fields. 2- Eight of total 29 oil fields are off