Tehran (IP) - The President of Venezuela stressed the need to use the capacity of the Iranian company, Petropars, to develop Venezuela’s oil and gas projects.

Iran PressIran news: A 20-year partnership agreement has been signed between Tehran and Caracas aimed at bolstering bilateral cooperation in various fields.

According to Petropars Company, Nicolas Maduro visited the Petropars booth on Saturday, June 11, during a visit to the exhibition of capabilities and achievements of Iranian companies, accompanied by Ebrahim Raisi, President of the Islamic Republic of Iran.

During the visit, he expressed satisfaction with the existence of such a capacity in Iran. He also stressed the use of this capability and the re-establishment of professional relations in the field of oil and gas.

As the mega Gas Field of South Pars was explored in the Persian Gulf and the necessity of its development aroused, the idea of establishing a local company to transfer and develop the management know-how of a large oil & gas program came up; therefore, in 1998, Petropars Ltd was established.

In the first step, the company undertook the implementation of the phase 1 South Pars gas field and in cooperation with internationally accredited companies was able to transfer the necessary management and technical knowledge to the country. Then, the development program for Phases 4 and 5 of the South Pars Gas Field was transferred to Petropars, the first experience of an Iranian company in financing and investing in programs and mega projects.

With the significant success that Petropars achieved in this project, it has taken steps toward the fundamental management of domestic and foreign contractors and enhancing project management knowledge in Iran and has thus been responsible for the implementation and development of Phase 6,7,8 of the South Pars Gas Field.


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Raisi, Maduro visit exhibition of Iranian companies