The CEO of the Iranian Central Oil Fields Company announced that comprehensive study of 8 ICOFC fields would be awarded to local companies.

20 kV power supply from 63.20 kV substation of Shahid Fahmideh refinery and natural gas storage complex was put into operation in Sarajeh operational region.

The Director of Integrated Planning at the National Iranian Oil Company said the fate of all Iranian oil and gas joint fields had been determined except for one small field.

Oil prices keep falling. Nobody could imagine that oil prices would hit their 17-year lows in less than three months. Analysts shift the blame on the novel coronavirus outbreak, which has degenerated into a global crisis. The Covid-19 outbreak caused economic stagnation and demand for oil and petroleum products dropped severely.

Last year,Iranian Central Oil Fields Company drilled and completed 9 new wells and 7 repair wells using eight drilling rigs.

The CEO of East Oil and Gas Production Company announced the production of 15 billion and 700 million cubic meters of gas in EOGPC in the past year.

Last year over 33% gas reproduction rise from Shorijeh D and Sarajeh Reservoirs was realized when compared to the same period of the previous year.

Oil prices shed more than 10% on Tuesday, with investors apparently unconvinced that record supply cuts could soon balance markets pummeled by the coronavirus pandemic, though a predicted plunge in U.S. shale output provided some support.

The idea of establishing oil startups was first raised less than a year ago by Petroleum Minister Bijan Zangeneh.

A senior Iranian industrial official says the country has indigenized manufacturing of over 70% of the equipment used in the petroleum industry.