9 October 2020

Local firms take Iranian field reins

Iran has succeeded in expanding its oil and gas production capacity without the help of foreign partners. But at what future cost?

Iran has made significant progress in overcoming restrictive sanctions preventing the involvement of foreign partners to further develop its oil and gas fields. And that has allowed the Islamic Republic to ramp up its secretive exports and win back market share. Following the withdrawal of international partners from integrated petroleum contracts (IPCs) signed in 2017, efforts to expand the country’s production capabilities stalled. However, the Ministry of Petroleum and state-owned NIOC appear to be beating the odds, pushing forward with local companies while maintaining previous production targets. The major push has coincided with the final year of Hassan Rouhani’s second presidential

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