May 2021: NIOC has signed a contract worth US$1.78 bn with Petropars for development of the Farzad B gas/condensate field in the Persian Gulf entailing 8 production wells, 3 connected WH platforms, separation facilities and 2 pipelines of 230 kms to transfer sour fluid onshore. The field is in the Farsi block on the border between with Saudi Arabia.
Feb 2021: The Iranian Central Oil Fields Company said plans were under way to start oil production at the Khesht oil field in 2021 by launching 3 wells. Produced oil will be sent to the Nargesi Production Center. The field’s development will enhance the production capacity of the Sarvestan and Saadatabad oil fields.
Nov 2021: Pars Oil and Gas Co. (POGC) re-started operations at the South Pars Phase 16 gas platform in the Persian Gulf following shut down of the export pipeline in November 2019. The platform has capacity to handle 5 bcm of gas per year.
July 2020: NIOC has signed a contract with Persia Oil and Gas Industry Development Company (POGIDC) for development of the Yaran field aiming to deliver 40 mm bbls of extra oil over 10 years at a Capex of US$227 mm. The project will include 8 new wells, workovers, 27 ESPs in existing production wells and design of EOR. The field is west of South Azadegan field and shared with the Majnoon Field in Iraq.
Feb 2020: Iranian Offshore Oil Co will further develop the Forouzan oil field in the Persian Gulf. Petropars said the US$314mm project calls for drilling of 12 new wells, 11 workovers, 3re-entries, 3 subsea pipelines totalling 27 kms and installation of 2 platforms. Iran shares the field with Saudi Arabia.
Feb 2020: Pars Oil and Gas installed the final platform (14D) of Phase 14 of the South Pars gas field in the Persian Gulf. Phase 14 is designed to produce 50 mm cm per day of sweet gas, 75,000 bbls per day of gas condensate, 400 tonnes per day of sulfur, and 1 mm tonnes per year of LPG.
Nov 2019: It has been announced that NIOC has discovered a new oil field in the southwest of the country, Khuzestan Province,It has potential reserves of 53 bn bbls and covers 2,400 sq kms (GS notes: take such announcements as speculative until further information comes available).
Sep 2019: Petropars will sign a US$440mm contract with NIOC to develop the Bilal gas field SW of Lavan Island in the Persian Gulf. The project will deliver 5 bcm a year of sour gas to South Pars Phase 12 Platform C for processing before piping to an onshore refinery.
Mar 2019: Iranian Offshore Oil Co. (IOOC) will arrange enhancement and maintenance programs for 4 offshore oil fields in the Persian Gulf. Services for the Siri project (including the Sivand and Esfand areas), the Reshadat, Resalat and Forouzan oil fields will be awarded.
Feb 2019: Pars Oil and Gas reported that the HL5000 barge has installed the 2nd offshore platform at the South Pars phases 22-24 project in the Persian Gulf. When operational the platform will deliver 5 bcm pf gas a year. The main Phase 22 platform came online in January.
Aug 2018: Total has confirmed on Monday that it had notified the Iranian authorities of its withdrawal from the South Pars 11 gas project after it failed to obtain a waiver from U.S. Sanctions. CNPC, its partner, has the right to resume participation.
May 2018: Total will stop all operations on the development of the South Pars Phase 11 gas project unless it is granted a waiver from the USA after its decision to withdraw from the JCPOA and reinstate sanctions that were in force before the JCPOA’s implementation, subject to wind-down periods.
May 2018: Pergas Resources International plans to sign a US$1.16 bn 10-year agreement to work on the Karanj oil field in Khuzestan province. Financing will not be coming from any company involved in the USA. Karanj is producing 127,000 bbls per day and the company will use gas injection to increase output.The field was discovered in 1963 and production began in 1964.
Feb 2018: Iranian Offshore Oil Co (IOOC) expects oil production from the offshore Abouzar field to increase by 12,000 bbls per day once the new A20 and A21 platforms have become operational. Abouzar currently produces 200,000 bbls per day from around 90 wells, piped to Kharg Island.
Jan 2018: Pars Oil and Gas expects gas production to begin from the US$6bn Phase 14 development of the South Pars field in the Persian Gulf by February. Phase 14 includes a platform, 22 wells and 230 kms of subsea pipelines.
Oct 2017: A tender for developing the Azadegan oilfield has been delayed again and will not take place in 2017.
Aug 2017: Maersk estimated potential output for the 2nd phase of the South Pars oil deposit at up to 140,000 bbls per day in a development study following an MOU with NIOC in 2016 to explore opportunities for future collaboration. In Qatar waters the oil-bearing layer is called Al-Shaheen.
Jun 2017: Total will go ahead with the development of phase 11 of the South Pars project in the Persian Gulf, which will cost up to US$5 bn with an initial phase of 30 wells and 2 platforms, followed later by compression facilities. Total holds 50.1% along with CNPC (30%) and Petropars (19.9%). Total worked on phases 2-3 of South Pars in the 1990s.
Apr 2017: Phases 17 to 21 of the offshore South Pars gas field have been officially inaugurated representing investment of around US$20 bn over the past 10 years. Total production from the field has reached nearly 200 Bcm a year with 5 new platforms (Globalshift notes: much of this gas is used to improve recoveries from oil fields).
Feb 2017: NIOC will start operation of the South Pars FPSO in 2 months after wells in the oil layer have been connected. The oil layer is 130 kms offshore with an estimated 7 Bbbls in place. Initial production should be up to 35,000 bbls per day. Nine other South Pars platforms are under construction for phases 22, 23, 24, 13, and 14, each with capacity of 5 bcm per year.
Jan 2017: Schlumberger will submit a proposal to develop the Shadegan, Rag Sefid and Parsi oil fields near Ahvaz southern Khuzestan Province to the National Iranian South Oil Company (NISOC).
Dec 2016: Gas has begun flowing from Phases 20 and 21 of the South Pars field development in the Persian Gulf. The sour gas is used, after sweetening, in Iran’s domestic grid. Capacity in South Pars is now more than 188 bcm per year although large quantities are re-injected into oil fields.
Dec 2016: Shell signed an agreement to evaluate the Azadegan and Yadavaran oil fields near the Iraqi border, and the Kish gas field in the Persian Gulf. Azadegan crosses the border into Iraq where it is called Majnoon. Iran’s output from the North Azadegan and South Azadegan is around 120,000 bbls per day. Majnoon, operated by Shell, produces 210,000 bbls per day.
Nov 2016: DNO ASA announced the signing of a memorandum of understanding (MOU) with NIOC to conduct a study concerning the development of the Changuleh oil field in western Iran. Thefield was discovered in 1999 but never developed.
Nov 2016: Total has signed a heads of agreement with NIOC for the development of phase 11 of South Pars. Total will operate the SP11 project with 50.1% alongside Petropars (19.9%) and the CNPC (30%). The US$2bn first phase will consist of 30 wells and 2 WH platforms connected to the existing onshore treatment facilities by 2 subsea pipelines. Compression facilities will be added when required.
Oct 2016: Drilling of 38 wells, which began in late 2014, from 2 platforms on the South Pars Phase 13 project in the Persian Gulf should be complete by the end of 2016.
Jun 2016: Pars Oil and Gas Company (POGC) reports that the 2nd of 4 platforms for Phase 19 is to be installed at the South Pars field and work on sweetening units and gas condensate stabilizers will be completed by mid-August while sulphur recycling units and LPG facilities are targeted for completion by 2017.
Jun 2016: New model oil contracts, worked on since February 2014, will be signed within 3 months reports the oil minister. Since sanctions eased in January, Iran has lifted production to a 4-year high but hopes to attract investment of up to US$50 bn a year from oil companies. Meanwhile it is seeking to boost output from fields in an area west of the Karoun River along the Iraqi border.
May 2016: Iranian oil production has risen to levels last seen before sanctions were imposed over 4 years ago. Iran pumped 3.56 mm bbls per day in April 2016 and exports went up 40% to 2 mm bbls per day. China was the biggest buyer.
Apr 2016: Saipem has signed a memorandum of understanding with Razavi Oil & Gas for cooperation on the Toos gas field development project located 100 kms NE of Mashad. Toos holds over 60 bcm of gas and 5 firm wells are planned together with the production and transportation facilities.
Mar 2016: Total signed an agreement to develop the South Azadegan oil field which Iran shares with Iraq.
Nov 2015: - Total, Shell, Lukoil and ENI are among companies that have selected projects to develop under new 20-year fixed-fee contracts valued at US$30 bn. The country will be offering foreign investors 52 development projects (29 oil and 23 gas, 34 onshore) and 18 exploration blocks after sanctions are lifted.
Nov 2015: Operator Iran Offshore Oil Company has increased oil production from the Salman field in the Persian Gulf following new gas injection wells. Salman is 144 kms from Lavan Island and production started in 1992.
Oct 2015: The National Iranian Gas Company (NIGC) plans to launch phases 15 and 16 of the South Pars gas field in November and is trying to bring parts of South Pars phases 19 to 21 onstream. Phase 12 will also come fully operational this year whilst production from the oil layer is planned for early 2017.
Aug 2015: Pars Oil and Gas Company (POGC), a subsidiary of NIOC, is due to launch Phases 15 and 16 of the South Pars gas field development in October. South Pars is divided into 29 development phases. The last phase onstream (Phase 12) started flowing gas in March.
Jul 2015: Pars Oil and Gas Company (POGC) reports that production capacity of the South Pars gas field has increased by 5 bcm per year after 4 wells were drilled. Phase 1 is operated by Petropars (NIOC Pension Fund 60%, Industrial Development and Renovation 40%).
May 2015: Drilling operations in Phase 19 of the South Pars gas field have been completed by Petropars. Fifteen wells were drilled out of a total of 21. The phase is currently 85% complete for the production of 0.52 bcm per year of gas, 80,000 bbls per day of condensate plus NGLs.
Mar 2015: The South Pars field, Phase 12 has been officially launched. Capital investment of US$7.5 bn dollars has added up to 27 bcm per year of sweet gas and 120,000 bbls per day of condensates. South Pars holds around 40% of Iran’s gas reserves.
Jan 2015: A gas field on Kish Island will come on stream in a year according to the director of Iran’s Petroleum Engineering and Development Company. First phase output (of 3 phases) is planned to rise to 9 bcm a year plus condensate with part of the gas consumed in Kish Island and part sent to the national network.
Jan 2015: South Pars gas field’s phase 15 platform has come onstream with 6 wells becoming operational. The platform is planned to produce 4.65 bcm each year of sour gas in the first phase. The South Pars field currently supplies around 72% of Iran’s total consumption.
Nov 2014: Gas recovery from the South Pars gas field is expected to reach 165 bcm this year to March 2015. Platforms in phases 15, 16 and 18 are undergoing nitrogen gas tests.
Apr 2014: Iran has terminated CNPC’s contract to develop the Azadegan oilfield after years of inaction. Iranian officials say they will soon offer foreign investors radically improved oil and gas contracts featuring more attractive terms than those signed to date.
Feb 2014: The Petroleum Ministry has said it plans to introduce a new generation of oil contracts to be more attractive to foreign investors should international sanctions be lifted.
Sep 2013: The Iranian Offshore Oil Company (IOOC) will develop 16 new offshore oil and gas fields off the island of Qeshm in southern Iran including Towsan, Northwest Towsan, Taftan, Hormuz, Gourzin, Salakh, Forouz A and B fields. Qeshm is estimated to hold more than four bn bbls of oil and 280 bcm of gas in place.
Sep 2013: Iran will increase production at the Forouzan offshore field to 100,000 bbls per day by early 2014 with 2 additional production platforms. Production is currently at around 30,000 bbls per day. Gas production is also set to increase. The Forouzan field was in the Iran-Iraq war of 1980-88.
July 2013: Phases 15 and 16 of South Pars are now 94% complete but Iran lacks equipment to complete the projects. South Pars is a part of a wider gas field shared with Qatar covering an area of 9,700 sq kms, 38% of which is in Iran. The Iranian part is reported to contain 14000 bcm of gas and 18 bn bbls of condensate and NGLs but is producing just a fraction of that of Qatar.
Mar 2013: Iran reports it will start production from the South Pars field oil layer in 2013. The FPSO is almost complete and will be installed in May. Initial production is planned at 35,000 bbls per day. The South Pars field lies in the Persian Gulf, north of Qatar and covers an area of 9,700 sq kms of which 3,700 sq kms lie in Iran's waters. The remainder is called the North field in Qatar.
Jan 2013: Iranian Offshore Oil Co. is to raise production from the offshore Reshadat oil field, 108 kms SW of Lavan Island in the Persian Gulf. Currently it produces from 14 wells, with oil sent to Lavan. Four new wells along with injection of gas and water and new downhole pumps should lift output by 22,000 bbls per day to 75,000 bbls per day . Eventually the scheme could involve 28 new wells and 5 new platforms with associated gas sent to the Salman field complex and Lavan Island.
Nov 2012: Pars Oil & Gas Company (POGC) has installed the first platform of the largest phase of the South Pars development (phase 12). It has 2 tripod jackets, 2 connecting bridges, a middle deck and a flare and related platform. The installation of 3 main platforms and a satellite is planned with the second and third under construction in Khorramshahr Yard. South Pars 12 is planned to produce up to 27 bcm per year of gas to the national grid plus of 120,000 bbls per day of condensate.