Country Report
Iran upstream summary
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Iran is an energy giant. The country has the world's fourth-largest gas reserves behind Russia, the United States, and Qatar; and the fifth-largest oil reserves. It is the third-largest gas producer and the seventh-largest oil producer globally. In 2024, gas and liquids output has reached approximately 10.4 million boe/d. Production is almost evenly split between liquids and gas.Despite being an energy giant, Iran faces an acute supply-demand imbalance. Seasonal energy demand ...
Table of contents
-
Executive summary
- Oil production
- Gas production
- Condensate and NGL production
- Foreign investment and technology
- Key facts
- Location maps
-
Key companies
- Main subsidiaries
- Internationally-based subsidiaries of NIOC
-
Selected local E&P companies for IPC projects
- NIOC-affiliated companies
- State-affiliated companies
- IRGC-affiliated companies
- Private companies
- Due diligence
- Operating capability
- Financing capability
- Foreign companies
-
Geology
- Introduction
- Regional tectonic framework
-
Zagros and Arabian basins
- The Arabian Platform
- Reservoirs
- Structural development
- Other basins
- South Caspian basin
-
Major petroleum plays
- Dalan formation
- Kangan formation
- Khami group (Surmeh (Arab), Fahliyan (Yamama) and Dariyan (Shuaiba) reservoirs
- Bangestan group (Kazhdomi (Nahr Umr), Sarvak (Mishrif) and Ilam formations
- Asmari limestone
- Source rocks and petroleum type
-
Exploration
-
Licensing
- 1901-1979
- Islamic Revolution
- 1995 - The return of foreign oil companies
- 1998 - First buy-back round
- 2003 Offshore licensing round
- 2004 Exploration licensing round
- 2007 Exploration licensing round
- IPC tenders
-
Drilling
- Drilling activity
- Onshore and the Persian Gulf
- 1900-1979
- 1979-2002
- 2003-present
- Caspian Sea activity
-
Licensing
-
Reserves and resources
- Oil reserves and resources
- Gas reserves and resources
- Maturity of the reserve base
- Reserves by field
-
Production
-
Oil/liquids
- Oil production outlook
- Condensate and NGL production growth
- Historical production
- OPEC
-
Gas
- Gas production outlook
- Dedicated re-injection projects
- Sales gas historical production
-
Oil/liquids
-
Infrastructure
-
Introduction
- Oil
- Gas
-
Oil infrastructure
- Gourreh-Jask oil pipeline
- Pumping stations
- Deliveries to domestic refineries
- Oil (and condensate) refineries
- Oil export terminals
- Gas infrastructure
-
Existing pipelines
- IGAT-1
- IGAT-2
- IGAT-3
- IGAT-4
- IGAT-5
- IGAT-6
- IGAT-7
- IGAT-8
- 3 more item(s)...
-
Future gas pipelines
- IGAT-11
-
Gas processing facilities
- Major gas processing facilities
- Fajr-e Jam (formerly Valli Asr)
- Bid Boland
- Khangiran (Hasheminejad)
- Dalan
- Assaluyeh and Kangan
- Parsian 1 and 2
-
Export pipelines
- Turkey
- Azerbaijan (swap for Nakhchivan region)
- Armenia
- UAE - Sharjah
- Iran Pakistan India (IPI Pipeline)
- Iraq
- Iraq-Turkmenistan swap deal
- Oman
-
LNG
- Supply - South Pars
- Supply - North Pars
- Sales
-
Introduction
-
Costs
-
Capital costs
- Capital expenditure by location
-
Operating costs
- Operating expenditure by location
-
Capital costs
-
Policy and regulation
-
Key legislation
- Petroleum Act (1974)
- Oil Act (1987)
- Other developments
- Iranian Constitution - Article 44
- Iranian Constitution - Article 81
- Iran Libya Sanctions Act (ILSA), 1996
- Regulatory body
- State oil company
-
National Iranian Oil Company (NIOC)
- National Iranian South Oil Company (NISOC)
- Iranian Central Oil Fields Company (ICOFC)
- Khazar Exploration and Production Company (KEPCO)
- Iranian Offshore Oil Company (IOOC)
- Pars Oil and Gas Company (POGC)
- Petroleum Engineering and Development Company (PEDEC)
- Arvandan Oil and Gas Company (AOGC)
- National Iranian Gas Company (NIGC)
- National Iranian Gas Export Company (NIGEC)
- State participation
- Licensing
-
Key legislation
-
Fiscal terms
- Overview
-
Upstream
- Buy-back contracts
- Iran Petroleum Contract (IPC)
-
Midstream and downstream
- Pipelines
- Gas utilisation
- Current fiscal terms
-
Iran Petroleum Contract
- Main innovations
- NISOC contract
-
Buy-back contracts
- State equity participation
- Bonuses, rentals and fees
- Royalty and other production taxes
- Buy-back cost recovery
- Buy-back profit sharing
- Corporate (or Petroleum) Income Tax (CIT)
-
NIOC contract terms
- Government priority production
- Corporate Income Tax (CIT)
- Capital and operating costs
- Royalty
- 4 more item(s)...
Tables and charts
This report includes the following images and tables:
- Key facts: Table 1
- Location maps: Image 1
- Iran: Sedimentary basins map
- Reserves and resources: Table 1
- Reserves and resources: Table 2
- Reserves and resources: Table 3
- Reserves and resources: Table 4
- Reserves and resources: Table 5
- Liquids and gas production and reserves
- Reserves and resources: Table 6
- Iran oil infrastructure map
- Infrastructure: Table 1
- 30 more item(s)...
What's included
This report contains:
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