Iran Finds New Oil Field of 53bln Barrels
Iran has discovered a new oil field in the country’s south with an estimated 50 billion barrels of crude oil in the oil-rich Khuzestan province, its president Hassan Rouhani said.However, the US sanctions against Iranian oil could make it difficult for the oil to find its way to international markets.Rouhani made the announcement in a speech in the desert city of Yazd. Some 53 billion barrels would be added to Iran’s proven reserves of roughly 150 billion, he said.He said the oilfield is located in the southwestern province of Khuzestan in a land stretching 2,400 square kilometers between Bostan and Omidiyeh.The president said exploration activities for the oilfield had begun in 2016…
Iranian, Algerian Ports Sign MoU
A delegation of Algerian Ministry of Transport executives visiting Iran's Imam Khomeini Port Special Economic Zone explored the development of port and maritime between the port of Imam Khomeini and the ports of Algeria.Adel Deris, Director General of Khuzestan Ports and Maritime, referring to Algerian delegation's two-day visit to Imam Khomeini Port Complex and other Ports in Khuzestan Province in Iran, said: "During this visit, the officials of Algeria's Ministry of Transport visited Khuzestan Port Facilities and Achievements, and the areas of greater co-operation in fields such as fighting against pollution, unloading and loading…
Abadan Ports Records 47% Growth in Exports
Iran's Director of Ports and Maritime Affairs of Abada, Reza Safari, announced a 47% increase in exports from Abadan, Arvandkenar and Chouebdeh Ports.During the last 10 months of this year, exports of goods and commodities from Abadan ports has increased by 47%, Reza said.The export volume of goods and commodities in the last 10 months of this year was 27 thousand 735 tons more than in the same period last year.Agricultural products, household appliances and light products, meat and meat products are among the most exported items from the three ports of Abadan, Arvandkenar and Chouebdeh. The destinations of exports from ports of Abadan are Gulf countries including Iraq and Kuwait.Meanwhile…
Iran-Indonesia to Develop Port Cooperation
Octaviano Alimuddin, the Indonesia ambassador to Iran, has visited Abadan Ports in the Khuzestan Province of Iran.According to a release from Ports & Maritime Organization, he stated that the aim of visiting Abadan port is to get familiar with the capacities, investment advantages and development of more trade relations between the two countries.‘We will inform Indonesian Investors about the investment capacities of Abadan ports” said Indonesia ambassador to Iran.The development of relations between Indonesia and Iran in port affairs is very important and Indonesian Investors will be informed about the investment capacities of Abadan ports."There are many capacities for cooperation with Indonesia…
Iran Makes $100 B Oil Find, Majors Compete For Big Deals
Iran has reportedly made its biggest oil find in 30 years, a giant 26 billion barrel field discovered just as the country is attempting to revive exploration activities. The oilfield in the prolific southwest Khuzestan province has the potential to produce up to 400,000 bpd, officials said. Iran's potential for big discoveries is one of the incentives now driving major Western oil firms competing to grab big deals. Companies are vying for more than 40 projects, although progress is slow, bogged down by red tape and some domestic opposition from conservative factions. So far Iran has only awarded a handful of projects to foreign companies in offshore projects that are politically less sensitive.
Iran Makes $100 B Oil Find, Major Companies Compete For Big Deals
Iran announced its biggest oil find in 30 years last week, a 26-billion barrel field discovered just as the country drives to revive exploration activities and foreign firms compete for big deals. Oil Minister Bijan Zanganeh said the oilfield in the prolific southwest Khuzestan province has the potential to produce up to 400,000 bpd. He said that development on the field, which is close to the Iraqi border, will start by the end of March 2001 and could earn revenues of some $100 billion given current estimates of recoverable reserves. The massive discovery by the National Iranian Oil Company comes under renewed Iranian efforts to rejuvenate exploration activities in a country with the world's second largest natural gas reserves and fifth biggest oil reserves.
