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National Iranian Oil Company (NIOC)


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National Iranian Oil Company (NIOC) is considered as one of the world's giant oil companies. For the time being the in place oil and gas of the company are estimated over 137 billion barrels of crude oil and 28 trillion cubic meters of gas. National Iranian Oil Company (NIOC) managed to increase 2,840 million barrels of crude oil, 1,045 billion cubic meters of gas, and 898 million barrels of NGL and condensates to the country's in place reserves by developing its explorations of 5 oil and gas fields in 2008. NIOC has successfully discovered twice the amount of depleted oil and natural gas reserves so far. According to international figures, the total reserves of crude oil in the Middle East are 741.6 billion barrels, of which Iran possesses 18.4 percent. Presently, NIOC, having the 15.8 percent of total crude oil export of the Middle East, ranks second below Saudi Arabia. Analyses show an increase in Iran’s oil export compared with the previous year. According to the ranking proposed by Energy Intelligence, NIOC ranks second among 100 oil and gas companies in the world.

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NIOC activates are exploration, drilling, production, research and development, refining, distribution and export of oil, gas, petroleum products.

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 Associated Articles

First Train of South Pars Phase 14 Refinery Online in Winter
President Raeisi Nominated Javad Owji as New Petroleum Minister
Jask Diversifying Iran Oil Export Markets
POGC CEO Stresses Need for Maintaining South Pars Production
Iran Invests $2.5B in South Pars Phase 14 Offshore Section
more articles »
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