Iran Will Resume Oil Activities In Venezuela When Situation Changes

Tehran, May 20, IRNA – Iranˈs oil company, Petropars, is willing to restart its activities in Venezuela when the present situation is changed, CEO of Petropars Ltd. (PPL) said on Tuesday. Speaking in an exclusive interview with IRNA, Mohammad Javad Shams voiced PPL readiness to resume a project to develop the Dobokubi oil field in Venezuela. The project aimed at increasing the oil fieldˈs production from its present 14,000 bpd to 40,000. Due to some circumstances set by the Venezuelan side, we were unable to complete the project, therefore it was suspended, said the official adding that the Petropars mission was not ended in Venezuela yet. ˈSince US is the major importer of Venezuelan oil, Caracas fears to be the target of Washingtonˈs pressures if the former continues its cooperation with Tehran,ˈ Shams said. He added based on the agreement signed between PPL and its Venezuelan counterpart, Iran was to hold 20 percent of shares in Dobokubi oil field project and was considered as a partner of the project./end