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Success of PGNiG in Iran

Source: www.gulfoilandgas.com 2/11/2008, Location: Asia

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Polish Oil and Gas Company signed in Teheran a letter of intent with Iranian Offshore Oil Company concerning cooperation in the development of Iranian gas and condensate field discoveries. This is one of the outcomes of the visit to Iran (4-7 February) of a PGNiG delegation led by Krzysztof Glogowski, President of the Board, Stanislaw Niedbalec, Vice President for Technology and Investments and Tadeusz Zwierzynski, Vice President for Strategic Projects.

During their visit to Iran, the representatives of PGNiG had a series of discussions with the managements of leading oil companies associated in NIOC (National Iranian Oil Company). They were focused primarily on the potential involvement of PGNiG in the cooperation in such areas as development of field discoveries and joint implementation of investment projects including, inter alia, construction of underground gas storage facilities.

The discussions were held with the participation of Iranian government officials representing the Ministry of Petroleum, notably H. Noghrehkar Shirazi Deputy Minister for international affairs and S.R. Kassaei Zadeh, Deputy Minister for gas production and Managing Director of National Iranian Gas Company. The Iranian party appraised very highly the preparedness of PGNiG in terms of expertise and technology, and expressed its interest in pursuing joint ventures.

Through the cooperation with Iranian oil companies PGNiG hopes to join the group of major oil companies, such as OMV (Austria), REPSOL (Spain), ENI (Italy) and Lukoil (Russia) which are successfully developing their business activities in Iran.

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