Major contracts signed in Irans oil gas industry in a year
Major contracts signed in Iran’s oil, gas industry in a year
TEHRAN – Iran’s Oil Ministry subsidiaries recorded a strong performance in the previous Iranian calendar year (ended on March 20) by signing notable medium- and large-scale contracts, marking a significant step toward expanding the country’s hydrocarbon industry.
According to the Oil Ministry, citing data from the national contract database, the ministry signed 16 medium-scale and seven large-scale contracts in the previous year. In total, its subsidiaries registered 8,324 medium-scale contracts and 4,180 large-scale contracts, highlighting extensive activity in the sector.
The National Iranian Oil Company (NIOC) led the sector with 4,213 medium-scale and 1,273 large-scale contracts, playing a key role in oil exploration, production, and exports.
The National Iranian Gas Company (NIGC) registered 3,323 medium-scale and 2,048 large-scale contracts, strengthening gas infrastructure and reinforcing its position in ensuring stable energy supplies.
The National Iranian Oil Refining and Distribution Company (NIORDC) signed 704 medium-scale and 807 large-scale contracts, contributing to the improvement of the petroleum product supply chain and boosting refining capacity.
Meanwhile, the National Petrochemical Company (NPC) finalized 68 medium-scale and 45 large-scale contracts, taking significant steps in petrochemical industry development and enhancing the value-added potential of hydrocarbon products.
The Oil Ministry stated that these agreements aim to optimize production, reduce reliance on foreign resources, and bolster the national economy. Analysts view this progress as evidence of domestic companies’ strong capabilities in managing large and mid-scale projects, laying the groundwork for further oil and gas sector growth in the coming years.
EF/MA
source: tehrantimes.com