Petropars managing director has announced the launch of negotiations with Anglo-Dutch Shell oil company over conducting Studies for investment in oil projects.
Managing Director of Petropars Company Mohammad Javad Shams pointed to the talks with foreign oil firms to make joint investments under the new generation of Iranian Petroleum Contracts (IPC) saying “so far, Petropars has held talks with several companies like Shell as well as a German-Italian company over joint venture in oil projects.”
The official underlined that the foreign parties are currently investigating the Iranian market; “an agreement has been inked with the Germans though negotiations with a separate company have not become operational over development of West Karun oilfields in the southern Khuzestan Province.”
Shams referred to the stable production at Phase 12 of South Pars field adding “implementation of the onshore section of South Pars Phase 19 as well as injection of sweet gas to the national grid all indicate capabilities of Iranian companies offering greater confidence to foreign companies for conducting projects in Iran’s oil industry.
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