TEHRAN, Jun. 09 (MNA) � The MD of Petropars Company told the local media that according to a new MoU signed between his company, the PSEEZ, and Stinnes Interoil Italia Srl a new oil field is to be developed in the south of Iran.

�This is the first document signed to develop a complete oil center in the third region of Pars oil field with explorations, offshore and inshore production, and export of the products,� said Mohammad Javad Shams, the Managing Director of Petropars Company after signing a memorandum of understanding (MoU) with Stinnes Interoil Italia Srl and the Pars Special Economic Energy Zone (PSEEZ) on Thursday in Tehran.

Shams recounted that in the first phase of the MoU which would last for 8 months the three partners will run feasibility studies and the Italian partner acts as the investor in the project.

�To enter the Iranian market, Interoil corresponded with Petropars and after holding some meetings of negotiations we reached the current agreement,� said the MD of Petropars after referring to the successful projects of the Italian company in African ports.

By Mehr News Agency