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Iran offers oil and gas projects

30 Nov 2015

Iran has offered 52 oil and gas development projects in addition to 18 exploration blocks at its Tehran IPC Conference held last week.

The projects, estimated to be worth more than £30 billion, include 29 new and currently producing oilfields and 23 gas developments, with onshore fields accounting for 34 of the projects.

The huge offshore field covers an area of 9700sq km, 3700sq km of which are in Iran’s territorial waters in the Persian Gulf. The remaining 6000sq km are in Qatar’s territorial waters.

The field is estimated to contain a significant amount of natural gas, accounting for about 8% of the world’s reserves, and approximately 18 billion barrels of condensate.