SHANA -- The CEO of the Naftiran Intertrade Company S�rl (NICO) issued a decree appointing Hamid Reza Masoudi as the new managing director of Petropars Ltd. (PPL).

�Considering the valuable commitment, expertise and experiences you have displayed and regarding the approval of the general assembly of Petropars Company, you are appointed as the managing director and a member of the board of directors of the company,� read the decree.

Completion of the company�s projects, especially the prioritized ones in joint fields, maintaining and developing human resources in Petropars Company and ensuring transfer and localization of state-of-the-art technologies in order for completion of projects, and creation and organization of mechanisms for the company�s presence in mid-stream projects, are some of the duties Ali Akbar Pour Ebrahim has tasked Mr. Masoudi with.

Established in 1998, Petropars Ltd. (PPL) was founded in order to contribute towards the development of Iran�s vast energy resources. PPL specializes as a developer of exploration, exploitation and production in upstream projects.

Previously, Mr. Masoudi held various key posts in Iran's oil and gas industry including the operator of phases 19 and 14 development projects of the supergiant South Pars gas field which Iran shares with Qatar in Persian Gulf waters.