Iran will hopefully resume offshore oil and gas exploration activities in the Persian Gulf for the first time in five years, says a senior official at the National Iranian Oil Company (NIOC).
Mohyeddin Jafari, head of Exploration Directorate at the NIOC, said Saturday that exploration operations at sea had been halted since 2019 due to a shortage of offshore rigs, according to a report by the Oil Ministry.
However, he added, following a new tender, a contractor with a marine rig has been selected, paving the way for operations to restart in 2025 in shared border areas with neighboring countries.
Over the past six and a half months, the NIOC’s exploration team has focused on both key studies and operational activities, Jafari said, adding that the Pezeshkian administration aims to review and assess exploration developments over the past 30 years.
Jafari said that one of the administration’s top priorities is to accelerate discovery rates by increasing the number of drilling rigs and utilizing advanced geophysical equipment. “If we succeed in these two areas, we can double the pace of discoveries,” he added.
