The event titled, "Transformation in Upstream Oil and Gas Investment and Development," organized by the National Iranian Oil Company (NIOC), is set to be opened today, April 22, at the Summit Hall of Islamic Countries in Tehran.
The event aims to attract new investors and resume the development of the country’s oil and gas resources.
At the event, NIOC will showcase investment prospects in 48 oil fields and 35 gas fields, including 34 onshore and 14 offshore oil fields, identified as prime targets. Meanwhile, 23 onshore and 12 offshore gas fields are expected to help address the country’s energy imbalance.
In addition, NIOC will unveil a major opportunity to capture 1 billion cubic feet per day of associated petroleum gas (APG), encompassing four sweet gas recovery and 41 sour gas recovery projects.
The event will also highlight 23 onshore and offshore exploration blocks intended to accelerate the discovery of new hydrocarbon resources and attract further investment. These blocks are estimated to hold more than 193.8 billion barrels of in-place oil reserves and 783 trillion cubic feet of gas.
Among these, five blocks in the Caspian oil region span approximately 11,625 square kilometers, with estimated reserves of 191.8 billion barrels of oil and 738 trillion cubic feet of gas.
The remaining 18 blocks, overseen by NIOC’s Exploration Directorate, are distributed across the country. They cover more than 96,290 square kilometers and contain an estimated 2.075 billion barrels of oil and 45 trillion cubic feet of gas.
As part of a broader initiative to reduce national energy consumption, NIOC will also introduce 15 major energy optimization projects across the industrial, construction, and transportation sectors to encourage private and foreign investment.