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Pars Oil & Gas Company announces PSEEZ to facilitate investments

Tuesday, Dec 18, 2012

Pars Special Economic Energy Zone (PSEEZ) plans to develop infrastructures in the South Pars region to increase investment opportunities.

Managing director of PSEEZ, Masoud Nasori, made the remarks adding ‘drafting necessary regulations is underway to facilitate productive investment in the region and to this end all the potentials will be deployed’.

He said parliament’s different commissions’ visits to the zone had been very constructive in advancement of South Pars gas field projects so that in drafting next year’s budget, lawmakers have decided to discuss allocating more funds to the zone’s projects as well as raising powers of PSEEZ.

He also referred to development of infrastructures in surroundings of PSEEZ adding 18 important projects are under way in the region under the legislations of president’s provincial tours.

Pars Special Economic Energy Zone (PSEEZ) was established in 1998 for the utilization of South Pars oil and gas resources and encouraging commercial activities in the field of oil, gas and petrochemical industries.

South Pars gas field is a natural gas condensate field located in the Persian Gulf. It is the world's largest gas field, shared between Iran and Qatar. According to the International Energy Agency (IEA), the field holds an estimated 1,800 trillion cubic feet (51 trillion cubic meters) of in-situ natural gas and some 50 billion barrels (7.9 billion cubic meters) of natural gas condensate.

Source: Pars Oil & Gas Company

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