Iran Oil & Gas Exploration and Production Market - Growth, Trends, and Forecast (2019 - 2024)

The market discusses the exploration, development and production activities in the oil & gas industry

Market Snapshot

Iran Oil & Gas Exploration and Production Market - Market Summary
Study Period:

2017-2024

Base Year:

2018

Key Players:

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Market Overview

Iran holds some of the largest crude oil and natural gas reserves. The country holds approximately 18.87% and 42.28% of the region’s crude oil and natural gas reserves, as of 2018. The crude oil production declined in 2018 compared to 2017 due to international sanctions that targeted the country’s oil exports hindered progress across the country’s energy sector. This, in turn, affected the upstream investment in both oil and natural gas projects. For instance, major foreign players like ExxonMobil, Total and Lukoil have either pulled out or have put on hold the investments in oil & gas sector.

Factors such as high operating expenditures of Iran’s oil and gas industry along with lack of investment in the oil and gas sector, are expected to have a negative impact on the market during the forecast period. However, efforts to attract foreign investment through the Iranian Petroleum Contract (IPC) along with new oil & gas discoveries in the country’s territory are expected to drive the oil & gas exploration and production market in the coming years.

Scope of the Report

Iran oil & gas exploration and production market report include: 

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Key Market Trends

New Discoveries and Upcoming Projects are Expected to Drive the Market

  • More than 80% of Iran’s active oil fields are old and lose about 8-12% of their production capacity annually. In order to address this issue, Iran is conducting exploration for hydrocarbons of about 60% of its territory, including where, until recently, such searches were considered unpromising.
  • In December 2018, the National Iranian Oil Company (NIOC) has announced the discovery of more than 40 new oil and gas fields and are expected to start their development in the near future. As many as 14 blocks of newly discovered hydrocarbon deposits are ready for tender.
  • The officials of NIOC have stated that preliminary surveys of exploration department show that oil and gas fields can be found in the Bostanabad and Miyane regions in the province of East Azerbaijan.
  • In addition, in the province of Ardabil, a promising area of Mogan was identified, where pilot hydrocarbon production is already underway.
  • Some of the notable upcoming upstream oil and gas projects include the development of the Nahr Bin Umar and Artawi oilfields, South Yaran field, South Pars Oil Layer, and Azadegan oil field. Therefore, factors such as new oil & gas discoveries across the nation coupled with upcoming E&P projects are expected to drive the market studied during the forecast period.
Iran Oil & Gas Exploration and Production Market - Market Trends

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Competitive Landscape

The Iran oil & gas exploration and production market is consolidated. Some of the major companies include Oceaneering National Iranian Oil Company, China National Petroleum Corporation, and Lukoil Oil Company.

Major Players

  1. National Iranian Oil Company
  2. China National Petroleum Corporation

* Complete list of players covered available in the table of contents below

Iran Oil & Gas Exploration and Production Market - Market Concentration

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

    4. 1.4 Study Deliverables

    5. 1.5 Research Phases

  2. 2. EXECUTIVE SUMMARY

  3. 3. RESEARCH METHODOLOGY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Oil and Gas Reserves, 2010-2018

    3. 4.3 Crude Oil Production in million barrels per day, 2010-2018

    4. 4.4 Natural Gas Production in billion cubic feet per day, 2010-2018

    5. 4.5 Number of Wells Completed and Producing, 2010-2018

    6. 4.6 Iran's Contribution to Regional and World Oil Production, 2018

    7. 4.7 Iran Active Rig Count, 2010-2018

    8. 4.8 Key Projects Information

      1. 4.8.1 Existing Projects

      2. 4.8.2 Projects in Pipeline

      3. 4.8.3 Upcoming Projects

    9. 4.9 Recent Trends and Developments

    10. 4.10 Government Policies and Regulations

    11. 4.11 Market Dynamics

      1. 4.11.1 Drivers

      2. 4.11.2 Restraints

    12. 4.12 Supply Chain Analysis

    13. 4.13 PESTLE Analysis

  5. 5. COMPETITIVE LANDSCAPE

    1. 5.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 5.2 Strategies Adopted by Leading Players

    3. 5.3 Company Profiles

      1. 5.3.1 National Iranian Oil Company

      2. 5.3.2 China National Petroleum Corporation

      3. 5.3.3 ExxonMobil Corporation

      4. 5.3.4 Lukoil Oil Company

    4. *List Not Exhaustive
  6. 6. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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