Iran intends to expand geological exploration works in the Caspian Sea and accelerate the development of oil and gas reserves. To this end, the National Iranian Oil Company (NIOC) has prepared a program envisaging the acceleration of relevant projects. Drilling an exploration well in one of the promising areas is also planned in the coming years.
Iran Prepares Roadmap for Oil and Gas Projects
Iran has developed an intensive work program aimed at expanding geological exploration and advancing hydrocarbon production in the Caspian Sea.
According to sea-news.az Vesti.az reports, citing the National Iranian Oil Company, that Iran’s Deputy Oil Minister and head of NIOC, Farrokh Alikhani, stated this during a meeting held at the Khazar Exploration and Production Company (Caspian Oil Company) in the north of the country.
According to Alikhani, primary focus is currently directed toward preparing an operational roadmap. The document is intended to accelerate the exploration of fields and the development of oil and gas reserves in the Caspian Sea.
The roadmap will determine the volume of financing, as well as the requirements for equipment and necessary technical resources to implement the planned projects.
The head of NIOC stated that key results regarding the preparation of the roadmap have already been achieved. Nevertheless, work on the document will continue.
Iranian Oil Companies Agree on Future Areas of Activity
Alikhani also provided information about a recent meeting held between representatives of the National Iranian Oil Company and the Khazar Exploration and Production Company.
During the meeting, oversight of oil and gas production as well as the implementation status of ongoing programs were discussed.
Following the talks, the parties formulated an intensive work program. The program envisages intensifying geological exploration activities in the Caspian Sea and further developing hydrocarbon production.
Exploration Well to Be Drilled in the Caspian Sea
Earlier, Mohammad Hossein Daneshfar, Managing Director of Iran’s Khazar Exploration and Production Company, announced the completion of seismic surveys.
The surveys were conducted following the identification of several promising exploration structures in Block 13 of the Caspian Sea and the western part of Golestan Province.
In addition, the company has included the drilling of one exploration well in that area in its plan for the next Iranian year.
The next Iranian calendar year will begin on March 21, 2027, and end on March 19, 2028.
Oil and Gas Cooperation Between Kazakhstan and Iran
Cooperation between Kazakhstan and Iran in the oil and gas sector primarily covers transit, oil swap supplies, and the expansion of logistics infrastructure.
This year, Kazakhstan reached an agreement to gain access to Iranian ports, including Shahid Rajaee Port near the Strait of Hormuz, Chabahar, and Bandar Abbas, as well as to acquire dedicated plots in those areas.
These capabilities are planned to be used for the trade and transit of hydrocarbons, as well as for accessing markets in Asia, India, Pakistan, and Africa.
