0543 GMT August 20, 2018
Iranian energy companies were among the hundreds attending an annual offshore energy conference in Amsterdam, which wrapped up Wednesday, UPI reported.
The Pars Oil and Gas Co., which helps drive operations at Iran's offshore South Pars natural gas field, said in a statement it was one of a handful of Iranian companies with a pavilion at the exhibition.
"Pars Oil and Gas Company, Iranian Offshore Oil Company, Iranian oil Terminals Company, and Petroleum Engineering and Development Company are among active companies in the offshore industry of Iran that have attended this exhibition to introduce the opportunities for international investors to participate in Iranian offshore industries," the company stated.
In its first contract in the post-sanctions era, a consortium of French energy company Total, China National Petroleum Corp. and Petropars Ltd., a subsidiary of the state-run National Iranian Oil Co., signed a 20-year contract in early July to develop parts of the giant South Pars natural gas field in the Persian Gulf which is among the largest in the world.
With Iranian President Hassan Rouhani, who helped steer the post-sanction economy, going into a second term in office earlier this year, the Total-led deal cleared a path for future investments from foreign energy companies. Rouhani's administration set a goal of signing 10 new development deals by the end of the Iranian calendar year, March 20.