NIOC Awards Nearly $1bn Worth of Gas Contracts to Domestic Companies

Date: 11 May 2025 - 21:35

News ID: ۱۳۹۴۴۷

TEHRAN – A contract to
develop the Gouran and Pazan gas fields was signed between the National Iranian Oil Company (NIOC) and three domestic companies on the final day of the 29th Iran International Oil, Gas, Refining, and Petrochemical Exhibition.
The 20-year contract, worth $948 million, was signed Sunday between NIOC and a consortium comprising Bakhtar Group, Petro Farhang Holding, and Energy Gostar Hanna. The agreement aims to maximize gas extraction, create jobs in underdeveloped regions, and ensure a stable supply of feedstock for southern refineries.
Estimates indicate the project will produce 179.5 billion cubic meters of gas and 58.19 million barrels of gas condensates over its duration.
The 29th Iran International Oil, Gas, Refining, and Petrochemical Exhibition began May 8 at the Tehran Permanent International Fairgrounds and concluded Sunday.