Iran to unveil 14 oil and gas tenders

Iran

ISTANBUL, July 11, 2017 – Iran is preparing 14 tenders for exploration of the country’s oil and gasfields, an official said at the World Petroleum Congress on Monday.

Speaking at the event in Istanbul, Rahim Nematollahi, deputy director for exploration blocks for the National Iranian Oil Company, said the tenders would be released in the coming two to three months.

The announcement follows a landmark deal signed last week between Iran and French super-major Total, which will see a Total-led consortium develop phase 11 of the South Pars gasfield.

Nematollahi named BP, OMV, Gazprom, Lukoil, Edison and Petronas as companies having expressed an interest in the exploration blocks.

He pegged the investment required in the blocks – mainly located in the Zagros, Koppet Dagh and Gulf areas – at EUR 14 million-80 million, with the Parsa and Bamdad blocks the most expensive.