Mobarakeh Steel Company has taken a strategic step into upstream oil and gas projects by signing a $600 million contract for the 20-year development and operation of the “Madar” gas field in Bushehr province. This agreement, signed with the National Iranian Oil Company (NIOC) and the OIEC Group, not only aims to boost gas and condensate production but also creates new opportunities for major industries to participate in securing the nation’s energy supply, with a projected revenue of $16.7 billion for the government.

Iran has paved the way for the 20-year development of the Madar gas field in Bushehr province by signing a $600 million contract. The agreement, signed between the National Iranian Oil Company (NIOC), the Oil Industries Engineering and Construction (OIEC) group, and Mobarakeh Steel Company, marks a milestone in inter-industry collaboration for the nation’s energy sector development. Aiming to yield approximately 65 billion cubic meters of natural gas and 127 million barrels of gas condensates, the project includes the completion of 20 wells, construction of wellhead facilities, and the installation of over 100 kilometers of flowlines and production pipelines. Beyond its production targets, the plan is designed to maximize recovery from the field, create jobs in underdeveloped areas of Bushehr province, and attract new investment into Iran’s oil and gas sector. The presence of Mobarakeh Steel as a key signatory highlights the company’s new strategy to actively participate in upstream energy projects and secure sustainable resources. The project is projected to generate over $16.7 billion in revenue for the government over its lifespan, underscoring its national significance.