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Petropars was registered on January 27, 1998 pursuant to the supreme enactment of the economy council of 1998 on buy-back bases for the devaluation and implementation of the development of phase 1 of the South Pars Gas Field to a general contractor company that bears Iranian capital. NICO an affiliated company of the National Iranian Oil Company (NIOC) owns all of Petropars shares.
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Petropars was awarded the development of Phase 1 of the South Pars Gas Field with responsibilities ranging from engineering, procurement, construction to installation of facilities. The company participated in tenders for Phases 4 & 5, which is also now complete, and Phases 6,7 & 8. Petropars is currently involved with a number of newer projects, which are Phase 12 and Venezuela's Orinoco Oil Belt.
