Iran Oil and Gas Exploration and Production Market Size (2024 - 2029)

The Iranian oil and gas exploration and production market is poised for growth over the forecast period, driven by new discoveries, upcoming projects, and increased investment in the upstream sector. Despite challenges posed by geopolitical factors and national unrest, the market has rebounded to pre-pandemic levels. Iran's plans to enhance its production capacity through the development of key oil fields present significant opportunities for expansion in the market size.

Market Size of Iran Oil and Gas Exploration and Production Industry

Iran Oil and Gas Exploration and Production Market Summary
Study Period 2021 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2021 - 2022
CAGR 2.00 %
Market Concentration Medium

Major Players

Iran Oil and Gas Exploration and Production Market Major Players

*Disclaimer: Major Players sorted in no particular order

Iran Oil and Gas Exploration and Production Market Analysis

The Iranian oil and gas exploration and production market is expected to register a CAGR of over 2% during the forecast period.

The market was negatively impacted by COVID-19 in 2020. Presently, the market has reached pre-pandemic levels.

  • Over the medium term, new discoveries, upcoming projects, and increasing investment in the upstream sector are expected to drive the market's growth.
  • On the other hand, geopolitical factors and national unrest are expected to hamper the growth of Iran's oil and gas exploration and production market during the forecast period.
  • However, Iran plans to improve its production capacity of crude oil and natural gas with the development of the Azadegan, Yadavaran, Yaran, and South Pars oil layers, as well as several other fields. Such developments may create lucrative growth opportunities for the Iranian oil and gas exploration and production market during the forecast period.

Iran Oil and Gas Exploration and Production Industry Segmentation

Exploration & production (E&P) is a specific sector within the oil and gas industry linked to the early stages of energy production, typically involving exploring for and extracting oil and gas.

The Iranian oil and gas exploration and production market provides insight into recent trends and developments and key project information. The report offers the market size and forecasts for Iran's oil and gas exploration and production in revenue (USD billion).

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Iran Oil and Gas Exploration and Production Market Size Summary

The Iranian oil and gas exploration and production market is poised for growth, driven by new discoveries, upcoming projects, and increased investments in the upstream sector. Despite the challenges posed by geopolitical factors and national unrest, Iran is focused on enhancing its production capacity through the development of key oil fields such as Azadegan, Yadavaran, Yaran, and South Pars. These efforts are expected to create significant growth opportunities in the market. The country is actively exploring hydrocarbons across approximately 60% of its territory, including previously unpromising areas, to address the decline in production capacity from its aging oil fields. The National Iranian Oil Company (NIOC) has reported promising preliminary surveys in regions like East Azerbaijan, indicating potential new oil and gas fields.

Iran's strategy to boost its oil and natural gas production is further supported by substantial investments, despite the disruptions caused by U.S. sanctions. The government has outlined plans to invest billions in enhancing its upstream sector, with a focus on increasing natural gas production, which has been on the rise. This trend is expected to continue, driven by the growing international demand for natural gas due to its lower carbon emissions. The market is moderately consolidated, with key players including the National Iranian Oil Company, Petropars Ltd, and MAPNA Group. International collaborations, such as those with ONGC Videsh Ltd and Gazprom, highlight the ongoing efforts to develop Iran's oil and gas projects, further supporting the market's growth trajectory.

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Iran Oil and Gas Exploration and Production Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2027

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 PESTLE Analysis

Iran Oil and Gas Exploration and Production Market Size FAQs

The Iran Oil and Gas Exploration and Production Market is projected to register a CAGR of greater than 2% during the forecast period (2024-2029)

National Iranian Oil Company, Pasargad Energy Development Company, MAPNA Group, Petropars Ltd. and Khazar Exploration and Production Company are the major companies operating in the Iran Oil and Gas Exploration and Production Market.

Iran Oil and Gas Exploration and Production Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)