Petropars, Interoil Italia, PSEEZ Agree to Develop Oilfield

Iran’s Petropars, the Pars Special Economic Energy Zone (PSEEZ), and Italy’s Stinnes Interoil Italia Srl have cemented a deal to develop a new oil field in southern Iran, the managing director of Petropars said.

“This is the first document signed to carry out feasibility studies for the development of the Pars 3 region in Iran,” Mohammad Javad Shams told Shana, after signing a memorandum of understanding (MoU) with Stinnes Interoil Italia Srl and PSEEZ in Tehran on Thursday June 9.

In the first phase of the MoU, added Shams, the three partners will run feasibility studies and the Italian partner will act as the investor in the project. This phase will take 8 months.

Interoil has the experience of investing in the construction of major ports in Africa. The company contacted Petropars to cooperate with the company, which resulted in the MoU, added Shams.

Previously, the company cooperated with Petropars in the development of Phase 12 of the supergiant South Pars gas field, and the latter views Interoil as its technical arm in the development of the Pars 3 region.