During our second year of study at Inseec, we were taught a number of subjects including Business Ethics. To have a practical approach, we are conducting a study on the joint venture. In our case, we are interested in a joint venture between an Iranian company and a Japanese company.
National Iranian Oil Company (NIOC) produces and distributes natural gas and oil. Headquartered in Tehran, the company is public and belongs to the Ministry of Petroleum of Iran. It was founded in 1948. In 2005, the company owned 50% of the offshore gas field of Rhum in the North Sea, which is the largest untapped reservoir in the UK.
NIOC was established with the objectives of exploration, development, production, marketing and sale of crude oil and natural gas. With all the oil reserves of Iran, it is considered one of the largest oil companies in the world. Its reserves of oil and gas are currently 561.9 billion barrels and 41.14 trillion cubic meters.
In 2004, Iran was the fourth largest producer of oil in place NIOC four largest oil companies worldwide. The production capacity of NIOC includes more than 4 million barrels of crude oil and 300 million cubic meters of natural gas per day. It exports through its facilities on the islands of Kharg, Lavan and Siri, with 17 available tankers to export oil and gas.
Details of the joint venture between Iranian NIOC and the Japanese INPEX are in the following document.
Tags: NIOC – company and history, INPEX – company and history, joint venture between NIOC and INPEX
[...] In any event, they are the second largest reserves in the world. Under the agreements, production was scheduled to start in 2007 by extracting 50,000 barrels a day before proceeding to 150,000 barrels per day after one year and 260,000 barrels per day at maximum production. Inpex feared losing its rights to the oil field if the project did not start soon, Chinese and European groups were also in the run. B.Ethical problems We met three major ethical problems: - Reduction from INPEX Finally, in October 2006, the radicalization of Iranian politics under the aegis of Ahmadinejad and increased U.S. [...]
[...] Joint Venture between INPEX and NIOC I. Background 1. The companies involved 1. Iranian society: NIOC (national oil company) The National Iranian Oil Company (NIOC) is a company producing and distributing natural gas and oil headquartered in Tehran. The Company is public and belongs to the Ministry of Petroleum of Iran. It was founded in In 2005, the company owned 50% of the offshore gas field of Rhum in the North Sea , which is the largest untapped deposit in UK. [...]
[...] The contract provided for two and a half years to launch the project became automatically lapse in the absence of progress at the end of this period. However, at today's contract it has not yet been signed. II. Problems with the joint venture 1. The general problems The president of the National Iranian Oil Company (NIOC), Gholam Hossein Nozari had said in an interview with IRNA that Japan's participation in this project to develop the Azadegan oil field from 75% to 10% is important. It is becoming NIOC project operator. [...]
[...] The contract "buyback" between INPEX and NIOC did not allow the Japanese to expect sufficient profits to repay the investments made as part of the bilateral energy cooperation. Moreover, the Japanese oil company faced difficulties in financing the project, obtaining credit from banks is increasingly difficult to obtain for investments in Iran and their costs have increased considerably with the increase of international tensions around the nuclear issue. But negotiations between Japanese Inpex and Iran ended in October 2006; Japan had "failed" to reach an oil deal with two billion dollars to operate this gigantic field. [...]
[...] B.The situation joint venture in the oil Participation of Japanese INPEX to the operation of Azadegan field was announced during the visit of Mohammad Khatami in Tokyo in October 2000. It was then for Japan to strengthen its energy security by developing its ties with the Islamic Republic led by a reformist faction seeking reinstatement within the "international community". For Iranian leaders, this strengthening of the bilateral energy cooperation was a success for their strategy to circumvent U.S. and Israeli policy of isolating Tehran. [...]
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