Since its inception in 1951, National Iranian Oil Company (NIOC) has dealt with a large, diverse and growing portfolio of assets. NIOC’s foreign investment is limited to Rhum Field in the UK North Sea with 50% working interest (WI) which has been shut-in since 2010 due to the sanctions; and Shah Deniz in Azerbaijan with 10% WI. Both fields are operated by BP.
Back home NIOC holds a portfolio of shallow/deep/stacked, light/heavy, oil and gas fields (see below figure).
Iran’s oil and gas production comes from more than 2,200 producing wells in more than 100 oil fields of which about half are under-invested and/ or shut-in. Fields are structural & stratigraphic traps in two primary basins, Zagros & the Persian Gulf. About 80% of reserves are in Carbonates and the remainder in Clastics reservoirs, some with HPHT, high sulfur, harsh drilling conditions. Iran’s crude ranges between 20° to 41° API gravity with medium sulphur content.
IPC Project list
NIOC is offering more than 50 exploration, development IOR/EOR oil and gas projects for the upcoming bid round starting in 2016.
Please learn more about IPC here: Iran Petroleum Contract
