Country report
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68 Pages

Iran upstream summary


Iran upstream summary

Report summary

Iran is the third largest oil producer in the Middle East and has the world's second largest gas reserves, after Russia. It maintains ambitious plans to significantly increase supplies of both, but this has been curtailed by chronic under-investment in its upstream industry and petroleum infrastructure. External investment has been constrained for many years by US and other international sanctions, but investors have also been discouraged by the severity and inflexibility of buy-back ...

What's included?

This report includes 2 file(s)

  • Country Overview PDF - 1.70 MB 68 Pages, 25 Tables, 17 Figures
  • Country Overview XLS - 1.04 MB

Description

Volatility in oil markets has led players in the upstream oil and gas industry to focus on reducing capital spend and operating costs. At the same time, governments need to review fiscal terms to maintain attractiveness and investment.

This country report gives an overview of the key upstream issues for this country. If you’re interested in identifying and assessing upstream investment and expansion opportunities, this upstream summary is your definitive commercial guide.

Potential investors, governments and companies in the oil and gas sector can use it to gain a better understanding of the critical issues for development opportunities in this country.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research. Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in commercial data and analysis.

  • Executive summary
    • Lifting of sanctions
    • Oil production
    • Gas production
    • Foreign investment
  • Key facts
  • Location maps
  • Key companies
    • Main subsidiaries
    • Internationalising subsidiaries
    • Other local companies
      • Selected local companies to participate in the IPC tenders
      • Due diligence
    • 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 (Khuff) 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
      • 2003-2015
      • Caspian Sea activity
  • Reserves and resources
    • Oil and Gas Reserves
    • Location of Iran's Reserves
    • Maturity of the Reserve Base
    • Reserves by Field
  • Production
    • Oil/Liquids
      • Oil production outlook
      • NGL production growth
      • OPEC
    • Gas
      • Sales Gas
      • Dedicated re-injection projects
      • Production increasing
      • Future Sales Gas Production
  • Infrastructure
    • Introduction
      • Oil
      • Gas
    • Oil infrastructure
      • Pumping stations
      • Deliveries to domestic refineries
      • Oil import infrastructure
      • Oil refineries
      • Oil export terminals
    • Gas infrastructure
    • Existing Pipelines
      • IGAT-1
      • IGAT-2
      • IGAT-3
      • IGAT-4
      • IGAT-5
      • IGAT-6
      • IGAT-7
      • The North and North East gas pipeline
    • Future Gas Pipelines
      • IGAT-8
      • IGAT-9
    • Gas Processing Facilities
      • Major Gas Processing Facilities
      • Fajr-e Jam (formerly Valli Asr)
      • Bid Boland
      • Khangiran
      • Dalan
      • Assaluyeh
      • Parsian 1 and 2
    • Export Pipelines
      • Turkey
      • Azerbaijan
      • Armenia
      • UAE - Sharjah
      • Pakistan and India (IPI Pipeline)
      • Iraq
    • LNG
      • Supply - South Pars
      • Progress
      • Supply - North Pars
      • Progress
      • Sales
  • 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 (POGC)
      • Petroleum Engineering and Development Company (PEDEC)
      • Oil Exploration Services Company (OESC)
    • National Iranian Gas Company (NIGC)
    • National Iranian Gas Export Company (NIGEC)
    • State participation
    • Licensing
  • Fiscal terms
    • Overview
    • Upstream
    • Mid- and downstream
      • Pipelines
      • Gas Utilisation
    • Current fiscal terms
    • Buy-back Contracts
      • State Equity Participation
      • Bonuses, rentals and fees
      • Area rentals
      • Indirect taxes
      • VAT / Sales Taxes
      • Royalty and other production taxes
      • Buy-back cost recovery
    • NIOC Contract Terms
      • Government Priority Production
      • Corporate Income Tax
      • Capital and Operating Costs
      • Royalty
    • Possible future fiscal terms - Iran Petroleum Contract (IPC)
      • Main innovations
    • Sample Cash Flow - Buy-back contract
    • Historical background
      • The original buy-back concept
      • First generation of buy-backs (up to 1995)
      • Second generation of buy-backs (1995 to 2003)
      • Third generation of buy-backs (from 2003)
    • Agreements with international companies

In this report there are 42 tables or charts, including:

  • Executive summary
    • Liquids Production (2000-2020)
    • Sales Gas Production (2000-2020)
  • Key facts
    • Key facts: Table 1
  • Location maps
    • Location maps: Image 1
  • Key companies
    • Remaining Commercial and Technical Reserves at 01/01/2016
    • Liquids and Gas Production 2016
  • Geology
    • Iran: Sedimentary Basins Map
    • Iran Generalised Stratigraphy (Arabian and Zagros Basins)
  • Exploration
    • Exploration: Table 1
    • Exploration: Table 2
    • Exploration: Table 3
    • Exploration: Table 4
    • Exploration: Table 5
    • Exploration: Table 6
    • Exploration Drilling
  • Reserves and resources
    • Reserves and resources: Table 1
    • Reserves and resources: Table 2
    • Remaining and Produced Liquids and Gas Reserves
    • Reserves and resources: Table 3
    • Reserves and resources: Table 4
  • Production
    • Country Liquids Production (Oil, Cond, LPG)
    • Production: Table 1
    • Production: Table 2
    • Liquids Production (2000-2020)
    • Liquids Production by Sector
    • Production: Table 3
    • Production: Table 4
    • Sales Gas Production (2000-2020)
    • Gas Production by Sector
    • Production: Table 5
    • Production: Table 6
  • Infrastructure
    • Iran Oil Infrastructure Map
    • Infrastructure: Table 1
    • Infrastructure: Table 2
    • Iran Gas Infrastructure Map
  • Policy and regulation
    • Organisation Chart
  • Fiscal terms
    • Fiscal terms: Table 1
    • Fiscal terms: Table 2
    • Fiscal terms: Table 3
    • Fiscal terms: Table 4
    • Fiscal terms: Table 5
    • GEM models
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