Established in 1998, Petropars Ltd. (PPL) was founded in order to contribute towards the development of Iran’s vast energy resources. PPL specializes as a developer of exploration, exploitation and production in upstream projects.
This company has made some major achievements during its relatively short life. It was awarded a mega project for the development of Phase 1 of the South Pars Gas Field where PPL performed engineering, procurement, construction activities as well as installation of facilities. The main focus and policy for Petropars was optimal unitization of domestic resources throughout the project. Hence, the share of domestic companies in design, procurement, fabrication, construction and installation of facilities (offshore and onshore) was substantially higher than other similar projects.
The successful execution and development of the said project placed this company at the forefront of an unprecedented movement. It was a great milestone for an Iranian company to step into an area of international competition, which was previously monopolized and dominated by foreign companies. Hence, Petropars soon proved Iran’s capabilities in this highly specialized and sensitive sector.
Among the significant accomplishments of Petropars in executing this project was the flourishing of domestic contractors, job creation in deprived regions, technology transfer for installation of topsides, construction of gas platforms and commissioning of plants.
Having successfully executed Phase 1, PPL was granted other mega national projects including Phases 4 and 5 (now complete) and Phases 6, 7 and 8 which were inaugurated in October 2008. These projects were awarded to this company due to its optimal technical proposal and lowest price bids. In addition to the mentioned projects, Petropars is also currently involved in other major projects, including Phase 12 of South Pars Gas Field as well as Orinoco Oil belt of Venezuela.
With its impressive track record in managing the South Pars Projects, Petropars has proven its strengths as an EPC contractor making maximum use of domestic resources and capabilities of local contractors specifically in terms of local job creation and employment of domestic experts.
Continuing on its development path, Petropars is currently in the process of transforming into an independent oil company; exploring, developing, operating and acquiring hydrocarbon resources worldwide.