Iran Oil and Gas Exploration and Production Market 2021 Overview, Scope and Advancement Outlook 2026

The “Iran Oil and Gas Exploration and Production Market” report is an in-depth study of the market, along with an analysis of its key segments. The relationship is built through extensive primary and secondary research. In-depth market data is generated through interviews and data collection from industry experts and professionals. The study is a detailed document on key aspects of the markets including trends, segmentation, growth prospects, opportunities, challenges, and competitive analysis.

The Iran oil and gas exploration and production market is expected to grow at a CAGR for crude oil and natural gas production at almost 2% over the period of 2020-2025. 

The report is updated with the impact of the currently ongoing COVID-19 pandemic. The pandemic has dynamically affected key market segments and changed the growth pattern and demands in the Iran Oil and Gas Exploration and Production market. The report covers an in-depth analysis of these changes and provides an accurate estimate of the market growth forecast after the impact of the pandemic.

The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Iran Oil and Gas Exploration and Production Market: - National Iranian Oil Company, - National Iranian South Oil Company, - Iranian Central Oil Fields Company, - Pars Oil and Gas Company, and Other.

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Key Market Trend:

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.

The United States Sanctions on Iran

- The sanctions have affected the upstream investment in both oil and natural gas projects. As a result, during 2017-2018, crude oil production, crude oil exports, and well completion activity registered a decline.
- The majority of the international oil companies are from Europe and the United States. Owing to the sanctions from the United States, companies either cannot or refrain from investing in the oil and gas sector in the country. 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.
- It was expected that, despite the sanctions, the Chinese and Indian companies would continue their operations, as these countries are major oil and gas importers from Iran and hence, have vested interests in continuing operations in the country. But the major Chinese company, China National Petroleum Corporation (CNPC), has also withdrawn its investments in phase 11 of South Pars gas field.

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Influence of the Iran Oil and Gas Exploration and Production market report:

-Comprehensive assessment of all opportunities and risks in the Iran Oil and Gas Exploration and Production market.

–Iran Oil and Gas Exploration and Production market recent innovations and major events.

-Detailed study of business strategies for growth of the Iran Oil and Gas Exploration and Production market-leading players.

-Conclusive study about the growth plot of Iran Oil and Gas Exploration and Production market for forthcoming years.

-In-depth understanding of Iran Oil and Gas Exploration and Production market-particular drivers, constraints, and major micro markets.

What are the market factors that are explained in the report?

-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

-Analytical Tools: The Global Iran Oil and Gas Exploration and Production Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

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