Iran’s upstream sector is alive and kicking despite the fallout from draconian US sanctions.

The country is busy expanding both oil and gas production capacity to make the most of its resources, with an eye to the eventual lifting of sanctions.

Its focus is on the gas sector, with the country determined not to lose out to Qatar in the further expansion of the giant shared offshore South Pars field, also known as the North Dome.

South Pars production is currently around 700 million cubic metres per day — on par with Qatar, where international oil companies such as ExxonMobil, Shell, Total and ConocoPhillips have helped turn the tiny Persian Gulf state into the world’s largest liquefied natural gas exporter.