26 May 2007 - 09:48
  • News Code: 105512

TEHRAN -- Negotiations on a $4 billion contract to develop South Pars phases 19-21 are currently underway between Italy"s Eni oil and gas company and Iran’s PetroPars Company, Pars Oil and Gas Company (POGC) Managing Director Akbar Torkan said here on Friday.

Eni is the fourth biggest oil company in Europe in terms of market value, and the company is eager to invest in the gas and oil projects of Nigeria, Libya, and Venezuela, Torkan told Mehr.

Despite all the pressure by the West, the Islamic Republic of Iran is pushing on with attempts to increase foreign investment in its oil and gas fields.

News Code 105512

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