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Strategic partnership between Petropars and Persian Gulf Petrochemical Industries Co, in the development of hydrocarbon fields

  Strategic partnership between Petropars and Persian Gulf Petrochemical Industries Co, in the development of hydrocarbon fields

Managing Director of Petropars Group: Petropars opened a new window towards business environment and project portfolio development by signing a memorandum of cooperation with the Persian Gulf Petrochemical Industries Company.

According to a report of the Public Relations and International Affairs of Petropars Group, Seyed Shamseddin Moosavi referred to the Supreme Leader's intentions and his emphasis on the approach of completing the value chain in the oil and gas industry, job creation, and the participation of the domestic large companies in creating the infrastructure required for production and development of our country and said, "Considering this and our country's need for the development of hydrocarbon fields and supply of feedstock for the production of downstream petrochemical products, this memorandum of cooperation was signed between Petropars and Persian Gulf Petrochemical Industries Company". 
He stated that the aforementioned memorandum was signed in line with the strategy of "creating partnerships for the project portfolio development" as one of the six strategies of Petropars Group, and added, "Thus, a bilateral cooperation will be established for the evaluation, investment, design, construction and commissioning of facilities and exploitation and development of hydrocarbon fields in Maroon Khami region".
Referring to the two-year duration of this memorandum, the Managing Director of Petropars Group explained some of the related obligations, "The parties are required to establish a joint working group for the technical, economic and financial feasibility assessment of the project to provide accurate estimates for investment and develop a project implementation agreement draft, and to take measures to provide the necessary resources, employ specialized and experienced forces, and try to transfer and deposit technology in the country after coordinating with the National Oil Company and declaring readiness for the development of gas fields".

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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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