National
Europeans see huge potential in Iran’s energy market (Tehran Times – 10 May 2017)
European exhibitors participating in the 22nd International Oil, Gas, Refining and Petrochemical Exhibition of Iran (Iran Oil Show 2017) believe that there is huge potential for business in Iran’s oil, gas and petrochemical sectors ‘High potential, possibilities for growth”
The exhibition, which was held at the Tehran Permanent International Fairgrounds from May 6 to 9, hosted some 2500 domestic companies and 1500 foreign participants from 37 countries including Germany, France, Spain, Britain, Italy, Austria, the Netherlands, China, South Korea, Australia, the U.S. and Canada.
To find out the viewpoints of European companies willing to do business in Iran, the Tehran Times conducted interviews with a number of European participants of the exhibition which is among the most significant oil and gas events in the world in terms of the number of exhibitors and its diversity.
Oil & Gas
NIOC Ratifies Exploration and Production Roadmap (Financial Tribune– 10 May 2017)
The National Iranian Oil Company has approved a roadmap to expand exploration and production in five oil and gas blocks in line with efforts to raise crude and natural gas output.
The plan entails the development of Dasht-e-Abadan, the Persian Gulf, Northern and Southern Dezful and Koppeh Dagh blocks by 2022, the end of Iran’s sixth five-year economic development plan. “The NIOC assessed the development of 14 oil blocks and eventually assigned priority to five blocks,” Seyyed Saleh Hendi, NIOC’s deputy for exploration, was cited as saying by Shana on Tuesday.
The roadmap also includes specifics about geological and seismic studies as well as drilling requirements. “The NIOC has set a minimum production target for each block and plans are in place to develop the oil regions using $2 billion in domestic funding.”
MAPNA, OIEC to Study Iran Oil Deposits (Financial Tribune – 10 May 2017)
Domestic companies on Tuesday signed two agreements with the National Iranian Oil Company to study crude oil deposits in the south.
The Oil Industries Engineering and Construction Company (OIEC) will survey Mansouri and Abteymour oilfields and MAPNA Group will study the Sepehr Oilfield. The fields are located in the southern Khuzestan Province, Shana reported.
The two companies are expected to hand in their findings to the NIOC in six months. OIEC is one of the 11 domestic corporations certified to partner with international majors in upcoming oil and gas projects. Russia’s Lukoil and Indonesia’s Pertamina as well as Tenco, a subsidiary of Khatam-al -Anbiya construction group, are also studying Abteymour and Mansouri fields.
Mansouri holds an estimated 3.3 billion barrels of oil in place. Production from the field is reportedly around 60,000 barrels per day at present, but plans call for boosting output to 100,000 bpd initially and to 150,000 barrels in the long run.
Business
Iran, Guinea agree on bauxite transfer to Iran (IRNA – 10 May 2017)
Iran and Guinea-Conakry on Tuesday signed an agreement to renew their contract for production and transfer of bauxite to Iran.
Iranian Mines & Mining Industries Development & Renovation (IMIDRO) announced that Mehdi Karbasian, chairman of the board of IMIDRO and Abdoulaye Magassouba Conakry-Guinea Minister of Geology anIran d Mines confirmed and approved the contract in Guinea.
The two officials defined the terms of cooperation for cost reduction, implementation and financing the project.
Feasibility study of the project was performed, analyzed and finalized for production and transfer of bauxite from Conakry-Guinea to southern coasts of Iran.
Iran, Cameroon set to promote ties (IRNA- 10 May 2017)
Foreign Ministry’s Director General for African Affairs Mehdi Aqajafari in the last leg of his visit to western Africa on Tuesday underlined Iran’s resolve to consolidate bilateral ties with Cameron.
In a meeting with Cameroon Minister of Islamic World Edum Gregum in Yaounde, he also submitted Foreign Minister Zarif’s letter of invitation to his counterpart to pay a visit to Tehran in the future.
Recalling Iran’s numerous capacities and opportunities in various fields of economy, technology and industry, Aqajafari said boosting participation of private sector is essential for development of mutual cooperation.
Meanwhile, the Cameroonian minister thanked his Iranian counterpart’s invitation recalling his visit to Tehran when he had took part in the 16th Summit of the Non-Aligned Movement in 2012.
