Shell in talks with Petropars

Petropars is negotiating with Royal Dutch Shell about feasibility studies about major oil and gas projects, the company’s managing director Javad Shams was reported as saying on 23 May.

“We have already signed a cooperation document with a German company and negotiation with another foreign company for development of West Karoun oil field is underway,” Shana newsagency reported Shams as saying.

Petropars specialises in upstream projects.

Fars News Agency reported on 23 May that Shell paid $1.9 billion it owed the National Iranian Oil Company in March. This was in settlement of debts incurred as a result of nuclear-related sanctions which obliged Shell to stop operations in the Islamic republic.