The Brazilian firm invested around $100 million to drill two wells in Tusan and said it had found signs of oil but it was a small reserve not viable for production

Brazil’s state oil company Petrobras expects exploration of an Iranian block will yield disappointing results, a company director says, adding another Iranian block has shown similarly dim prospects.

NIOC says the deal came after much delay and waste of time by Total regarding the project. Now, the project will be accomplished in 52 months

The National Iranian Oil Company (NIOC) and China National Petroleum Corp (CNPC) have signed a $5 billion contract in Beijing for the development of the phase 11 of the South Pars gas field.

Iran will choose its gas export routes to Europe in proportion to its gas reserves and the most favourable markets. The country also has ambitious plans to produce and export tens of millions of tonnes of LNG from its giant offshore South Pars gas field

Iran has not excluded the possibility of shipping natural gas to Europe via the proposed Nabucco pipeline alongside the Persian Pipeline across Iran, oil minister Gholamhossein Nozari says.

A price dispute between Russia and Ukraine shut the transit route via which Europe receives a fifth of all its gas, and led to the most serious supply disruption for years indicating that Russia might not be a reliable supplier in the future

Iran's attraction as an alternative source of gas supply to Europe is slowly gaining momentum following a crisis over Russian gas supplies in January, top industry oil executives say.

Iran could be heading towards stagflation the Iranian year after next unless the oil price rebounds dramatically, or there are some dramatic policy reversals

What international sanctions against Iran were not able to achieve might come about through a funding crisis.

It could be five years before Iran begins pumping gas to Bahrain across the Gulf. The project may take some years to complete and Iran has agreed in principle to sell 1billion cubic feet of gas per day to Bahrain

A new pipeline will be built to import natural gas from Iran to Bahrain – doubling the country’s gas supplies as it strives to keep pace with development.

Farsi is the first overseas asset for which Indian firms have obtained exclusive exploration rights

The Indian-operated Farzad field in Iran’s Farsi block is expected to produce about 9.7 trillion cubic feet (tcf) of gas in 30 years. Farsi is the first overseas asset for which India firms have obtained exclusive exploration rights.

Equipment needed for LNG projects is mostly made in the US or Europe. Without LNG plants to export gas by tanker to the highest bidder, Iran could pump some gas by pipeline to neighbours, analysts say. But they are relatively small markets

Cost issues and sanctions that limit access to Western technology make it more beneficial for Iran to export natural gas via pipeline than by tanker after cooling it to liquid, an Iranian official says.

The Sultanate is struggling to fund energy development projects after the economic downturn made it hard to get credit

Oman will delay by at least a year a joint venture with Iran to develop the Kish gas field due to tight finances, an Omani industry source involved in the project says.

The firm has said the contract to deliver gas to the UAE already has an agreed price and was internationally binding

UAE-based Crescent Petroleum is seeking international arbitration for the failure of Iran’s state oil firm to fulfil a gas export contract, Crescent says.

NIOC’s policy was to sell oil to end-users, so any firm seeking permission had to have deals with downstream refiners and users. The policy as a whole is to get permission for the private sector to do business in the trade of oil

Iran, the world’s fourth-largest oil producer, is permitting local private firms and not just foreign companies to enter the trade in Iranian crude, officials say.

Use of the new product with improved filter material structure results in increased operational reliability. The risk of sudden machine failure and downtime can be significantly reduced. Maintenance intervals can be extended, resulting in significant cost and time savings

As one of the world’s leading manufacturers of innovative solutions for the hydraulics industry, with the introduction of Exapor Max2, Argo-Hytos has opened a new chapter in the history of hydraulic filtration.

Statoil would start production before the year’s end from the third of the three phases at South Pars that it was developing this year. When all facilities are online, total production from the three phases will rise to 3 bcfd of gas

Norway's StatHydro should complete a project at Iran’s giant South Pars gas field this year and has no further plans for investment in the country for now, a senior executive says.

Through this partnership, EIOS will be able to offer the energy sector in the Middle East with ‘state-of-the-art’ technical services

Eastern Industrial and Oilfields Services Holding (EIOS) has recently acquired 10 per cent of the Regional Energy Services Holding (Resh).

Trouvay & Cauvin aims to provide a full spectrum of FPSO components, and to be a new reference on that market, Arnaud Humbert, general manager, Offshore Oil & Gas Division tells OGN

Trouvay Cauvin Gulf well known as TC Gulf is a Bahrain Shareholding Company set up in 1978 to cover the operations in the Middle East Area. The company operates through its main branch office in Jebel Ali Free Zone, UAE and is supported by five offices in the region.