Petropars, Interoil Italia, PSEEZ Agree to Develop Oilfield in Iran

TEHRAN, June 11 (Shana) – Iran's Petropars, the Pars Special Economic Energy Zone (PSEEZ), and Italy's Stinnes Interoil Italia Srl has cemented a deal to develop a new oil field in southern Iran, Petropars managing director said.

“This is the first document signed to carry out feasibility studies for development of Pars 3 region in Iran," Mohammad Javad Shams told Shana, after signing a memorandum of understanding (MoU) with Stinnes Interoil Italia Srl and PSEEZ in Tehran on Thursday. 

In the first phase of the MoU, added Shams, the three partners will run feasibility studies and the Italian partner acts as the investor in the project. The phase will take 8 months, he said.

Interoil has the experience of investing in construction of major ports in Africa. The company corresponded the Petropars to cooperate with the company which resulted in the MoU, added Shams.

Previously, the Iranian company cooperated with Petropars in development of Phase 12 of the supergiant South Pars gas field and the latter views Interoil as its technical arm for development of Pars 3 region. 

News Code 262617

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