Iran boasts the fourth largest oil and the second largest gas reserves in the world. A recent survey suggests that Iran’s crude oil production rose by 140,000 barrels per day to 3 MMbpd (million barrels per day) in February 2016. This was Iran’s highest production level since July 2012.

The nuclear deal that allowed Iran to resume oil sales around the world opens new opportunities for foreign companies. The costs to produce a barrel of crude in this Country are estimated at around US$ 12 compared to an average of around US$ 9 in Saudi Arabia, around US$ 36 in the USA and around US$ 52 in the UK.

For the Oil & Gas industry, PARCOL provides solutions for: compressor antisurge, pump minimum recirculation flow, gas to flare, emergency steam vents, high pressure let down, auxiliary power unit. More information is available at the website www.parcol.com.

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