Petropars was registered on January 27, 1998 pursuant to the supreme enactment of the economy council of 1998 on buy-back bases for the devaluation and implementation of the development of phase 1 of the South Pars Gas Field to a general contractor company that bears Iranian capital. Afterwards a branch of Petropars Company was registered in Iran (registration number 2213). NICO an affiliated company of the National Iranian Oil Company (NIOC) owns all of Petropars shares.
Petropars is a specialized, economic and efficient company that seeks to establish a global status as a developer of exploration, exploitation and production in upstream, downstream and peripheral industries of oil and gas, in order to contribute to the national wealth.
Petropars was awarded the development of Phase 1 of the South Pars Gas Field with responsibilities ranging from engineering, procurement, construction to installation of facilities. The main focus and policy for Petropars was optimal utilization of domestic resources throughout this project. Thus the share of domestic companies in designing, procurement, fabrication, construction and installation of facilities (offshore and onshore) was substantial.
The successful execution and development of the Phase 1 project placed Petropars in the forefront of an unprecedented movement. This was a great milestone for an Iranian company to step into an arena of international competition, which was monopolized and dominated by foreign companies.
Among the most significant accomplishments of Petropars in execution of this project was the flourish of domestic contractors, employment in deprived regions, self-sufficiency in areas such as sub-sea pipe laying, installation of jackets and topsides, technology transfer for installation of topsides with the float-over method, construction of gas platforms, strengthening contractors for construction of gas refineries and pre-commissioning and commissioning of refineries.
After the successful execution of Phase 1 by Petropars, the company participated in tenders for Phases 4 &5 which is also now complete and Phases 6,7 & 8. These projects were awarded to Petropars due to optimal technical proposal and lowest prices. Currently the development of these projects are under way and their products will be sent to domestic and international markets accordingly. Petropars is currently involved with a number of newer projects, which are Phase 12 and Venezuela's Orinoco Oil Belt.
Petropars has proven its capabilities as a General Contractor with an impressive history in managing the South Pars projects, making maximum use of domestic sources and capabilities of local contractors and companies specifically in terms of local job creation and employment of local experts.