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 large oil & gas programe 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 South Pars Gas Field was transferred to Petropars, the first experience of an Iranian company in financing and investing in program and mega projects. With the significant success that Petropars achieved in this project, it has taken steps towards 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 Phases 6,7,8 of South Pars Gas Field.
Undertaking these projects in South Pars Gas Field paved the way for Petropars to be awarded the development of Phase 12 of South Pars Gas Field as well becoming the largest Iranian contractor in oil & gas industry. Despite all challenges, Petropars. completed the project with undeniable success in 2014 and added another notable achievement to its remarkable resume. With its achievements, Petropars was opted as the most powerful domestic contractor in the oil and gas sector so that the development of Phase 19 of South Pars Gas Field and Farzad Gas Field, North Cabinda, etc. were added to the company’s agenda. Using enhanced the Petropars capabilities, Phase 19 of the South Pars Gas Field development was successfully completed in 2017. Considering financing the projects of Phase 1 and Phases 4,5,6,7,8 and 12, Petropars is now considered as the only Iranian contractor which is capable of financing the mega projects, relying on its sole stakeholder , NICO. Backed by its reputation, Petropars intended to became an Exploration & Production (E&P) Company in International level, seeking new opportunities for development in Iran and other countries in partnership with reputable International Oil Companies in the world