NIOC to Introduce 23 Oil, Gas Exploration Blocks

Date: 19 April 2025 - 23:14

News ID: ۱۳۸۶۶۵

TEHRAN – The National Iranian Oil Company (NIOC) is set to introduce 23 onshore and offshore exploration blocks to accelerate hydrocarbon resource exploration and attract investment. The estimated in-place reserves of these blocks total more than 193.8 billion barrels of oil and 783 trillion cubic feet of gas.
A set of investment opportunities, comprising 23 exploration blocks across various regions of the country, has been identified and is ready for domestic and foreign investors. These blocks, located in areas including the Caspian Sea, other offshore zones and onshore sites, aim to discover new oil and gas reserves.
The combined area of these exploration blocks spans approximately 108,000 square kilometers, with estimated in-place reserves of 193.875 billion barrels of oil and 783 trillion cubic feet of gas. These resources could play a significant role in expanding Iran’s production capacity and strengthening energy security.
Among the blocks, five are in the Caspian oil region, covering an area of about 11,625 square kilometers. Their in-place reserves are estimated at 191.8 billion barrels of oil and 738 trillion cubic feet of gas.
The remaining 18 blocks, under the direct supervision of NIOC’s Exploration Directorate, are located in various parts of the country. These blocks cover more than 96,290 square kilometers and hold estimated in-place reserves of 2.075 billion barrels of oil and 45 trillion cubic feet of gas.
The introduction of these exploration blocks and the facilitation of investment opportunities reflect NIOC’s strategic policy to sustainably develop Iran’s hydrocarbon resources, optimize geological potential and enhance the country’s role in the global energy market.
At the “Transformation in Investment and Development in Iran’s Upstream Oil and Gas” event, NIOC will present more than 200 opportunities to large, medium and small investors under various contractual frameworks.