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Managing Director of Petropars Group at E&P Companies General Meeting: One Half of South Pars Gas Field Was Developed by Petropars

  Managing Director of Petropars Group at E&P Companies General Meeting: One Half of South Pars Gas Field Was Developed by Petropars

The Managing Director of Petropars Group attended the 23rd general meeting of E&P companies and commented that one half of South Pars Gas Field, including Phases 1, 4, 5, 6, 7, 8, 12, and 19, was developed by Petropars Group.

According to a report released by the Public Relations and International Affairs Department of Petropars Group, in the course of the 23rd meeting of E&P companies which was hosted by Petropars, Engineer Hamid-Reza Masoudi initially welcomed the audience and expressed his condolences on the occasion of Moharram. He subsequently briefed the audience on the history of Petropars and added that since its establishment in 1997 (1376), Petropars had managed to develop more than one half of South Pars Gas Field, including Phases 1, 4, 5, 6, 7, 8, 12, and 19, and was able to play a major and serious role in the development of the said Field.

He went on to say that in the course of all these years, the total value of the projects completed by Petropars approximately amounted USD  23 billion and to have a fuller picture one should add to the said figure the projects which Petropars is negotiating with the National Iranian Oil Company (NIOC).

Engineer Hamid-Reza Masoudi pointed out that since TOTAL withdrew out of the related Contract, the Project for development of Phase 11 was presently reviewed for decision-making and finalization. He further added that recently a USD 440 million-Project was ceded to Petropars for development of BALAAL Gas Field and the executive operations were expected to begin within the next month. In addition to all these activities, Petropars is in the process of negotiations with NIOC for other projects as well.

The Managing Director of Petropars Group highlighted the competences and capabilities of the companies affiliated to Petropars and commented; “POSCO is responsible for the drilling operations and technical services required for the wells. Hence, POSCO has managed to accomplish all development operations required at the drilling section of Phase 12 and Phase 19. Further, KCT as an another company affiliated to Petropars, managed to supply the required in-well parts and equipments. The good news is that KCT have managed to manufacture a part of the commodities need for the drilling industry and as they have passed the operation tests, such commodities are readt to be presented and offered to the employers.   

It is worth mentioning that the 23rd general meeting of Iranian E&P companies was hosted by Petropars and was attended by the board of directors, managing directors and senior managers of the member companies.

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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... Read more

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