Market Size of Iran Oil and Gas Exploration and Production Industry
| 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
*Disclaimer: Major Players sorted in no particular order |
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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.
