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Letter of Cooperation Signed Between Petropars and Bank Tejarat

Source: www.gulfoilandgas.com 3/4/2018, Location: Asia

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Petropars signed a Letter of Cooperation with Bank Tejarat to utilize domestic resources for the execution of national projects. A report released by the Public Relations and International Affairs Department of Petropas Group reads that the Letter of Cooperation, which was signed by Dr. Akbari, CEO of Petropars and Rez Doolatabadi, the Managing Director of Bank Tejarat, underlines and stresses rendering of new financial services and promotion and expansion of level of cooperation.

Dr. Akbari outlined the successful history of Petropars in oil and gas industries and commented, “The engineering and development of well over 45% of South Pars Gas Field and execution and implementation of about USD 20-billion-worth projects are all indicative of the fact that Petropars has a high engineering capability and remarkable managerial competence. Hence; domestic financing can effectively expedite and contribute to acceleration of this process.

Reza Doolatabadi, the Managing Director of Bank Tejarat, assessed Bank Tejarat as being pioneer and forerunner in presenting financial breakthroughs and solutions to oil and oil-related industries and expressed hope that Bank Tejarat would be able to extend noticeable services to Petropars in order to further expand and promote their cooperation with Petropars by employing and applying new services.

The said Letter of Cooperation was signed on February 27, 2018 (Esfand 8, 1396) by the Managing Directors of Petropars and Bank Tejarat at the presence of members of the Boards of Directors and ranking managers of the two parties.

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