Mobarakeh Steel’s $600M Investment in Madar Gas Field Marks Strategic Entry into Upstream Energy Projects

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.