Iran is extracting the worlds lightest, highest quality crude oil from Hengam oil field which Iran shares with Oman

National Iranian Oil Company (NIOC) and French giant oil company Total have signed a memorandum of understanding which foresees crude oil sale to the major European firm.

Development projects at North Azadegan and Yadavaran are close to completion adding 160,000 barrels a day to the countrys crude oil output, a senior Iranian petroleum official said

Deputy Managing Director of National Iranian Oil Company (NIOC) Gholam-Reza Manouchehri says 10 to 12 Memoranda of Understanding (MoUs) will be signed in oil industry related areas with foreign companies.

Managing-director of Pars Special Economic Energy Zone (PSEEZ) said midstream oil and gas industries will develop in PSEEZ in line with the resistive economy principles

Iran’s Ministry of Petroleum has signed a major agreement with Italy’s Saipem to cooperate in a multi-billion euro project, reports from Rome said

With efforts made by Transport Department of the Iranian Central Oil Fields Company and its three subsidiaries, waiting time for transportation of drilling rigs reduced to zero

Presidential Chief of Staff Mohammad Nahavandian informed heads of European banks on the promising prospects of investment in Iran including on oil and gas projects following removal of sanctions.

Petroleum Minister Bijan Zangeneh said on Thursday that Iran will start within the next ten days negotiations on how to use Omans unused LNG capacity.

Deputy managing director of Pars Oil and Gas Company said drilling expenses make up 25% of development costs in the supergiant offshore South Pars gas projects