Iran to restart offshore oil exploration in Persian Gulf in 2025

Head of the Exploration Directorate at the National Iranian Oil Company (NIOC) Mohyeddin Jafari has said that Iran is set to resume offshore oil and gas exploration in the Persian Gulf for the first time in five years.

Jafari explained that exploration activities at sea were suspended in 2019 due to a shortage of offshore rigs, Caliber.Az reports per Iranian media.

However, following a recent tender process, a contractor with a marine rig has been selected, clearing the way for operations to resume in 2025 in areas that share borders with neighboring countries. Jafari highlighted that, over the past six and a half months, NIOC's exploration team has been engaged in both critical studies and operational activities, laying the groundwork for the planned restart of offshore operations.

Additionally, the Pezeshkian administration is currently focused on reviewing and assessing the exploration developments of the past 30 years. The administration’s strategic goal is to accelerate the pace of discoveries by increasing the number of drilling rigs and incorporating advanced geophysical technology into operations. Jafari remarked, “If we succeed in these two areas, we can double the pace of discoveries.” 

The National Iranian Oil Company (NIOC) is a government-owned corporation based in Iran. The company possesses the world's second-largest oil reserves and has sole control over Iran's entire oil and gas supply chain. NIOC's subsidiaries cover all aspects of the country's oil and gas industry.

By Naila Huseynova