Opportunities of investment in the offshore section of Iranian oil industry were outlined by the National Iranian Oil Company (NIOC) at the Offshore Energy Exhibition and Conference 2016, that is underway in Amsterdam, the Netherlands.

Vice-President of the Parliament Energy Committee Ali Adyani says Iran welcomes contribution of international companies into Iranian oil projects.

Minister of Petroleum Bijan Zanganeh has said his ministry aims to benefit from services of Iranian companies in Petroleum Ministry projects.

Deputy Minister of Petroleum for International Affairs and Trading Amir-Hossein Zamaninia and Finnish Deputy Minister for Foreign Trade and Development Cooperation Peter Stenlund on Tuesday called for bilateral cooperation in oil industry.

As many as 4,000 barrels a day of oil will be extracted from Danan oil field once Danan separation center is operational in Aban (October 21-November 21).

A member of the Iranian parliament says Iran will need at least 130 billion dollars in fresh investment by foreign financiers by 2021 if it is to enhance its oil recovery.

East Oil and Gas Production Company (EOGPC), a subsidiary of Iranian Central Oil Fields Company (ICOFC), produces natural gas and gas condensates from Khangiran fields (Mozdouran, Shourijeh-B and Shourijeh-D reservoirs) and the jointly owned Gonbadly field in Sarakhs in northeastern Iran.

Operator of the project for development of South Azadegan oil field Mahmoud Marashi says powerful companies can run the tender to develop second phase of a project for development of South Azadegan oil field.

A senior Iranian oil official says the price of crude oil at about $40 per barrel would be enough for foreign developers to make lucrative investments in Irans oil fields.

Deputy Head of the National Iranian Oil Company (NIOC) for Development and Engineering Affairs Gholam-Reza Manouchehri says 100 million cubic meters will be added to the countrys gas extraction capacity by March 20, marking end of the current Iranian calendar year of 1395.