EghtesadOnline: The equipment needed in South Pars Phase 11 offshore venture, which is expected to be developed by China National Petroleum Corp and Iran’s state-owned firm Petropars , will cost $2.8 billion, chairman of the board of directors of Iranian Petroleum Industries Equipment Manufacturers Association said. "As per the deal, contractors are obliged to meet 51% of their requirements from domestic manufacturers before relying on foreign suppliers," Reza Padidar was also quoted as saying by ILNA on Saturday.

EghtesadOnline: In coincidence with the development of Phase 1 of South Pars gas field, Petropars Ltd. (PPL) was established in January 1998 thanks to efforts undertaken by then Minister of Petroleum Bijan Zangeneh. PPL is 100 percent owned by Naftiran Intertrade Company (NICO) which is affiliated with the National Iranian Oil Company (NIOC).

EghtesadOnline: Iran's Petropars Company is talking with international oil and gas majors to forge partnerships to develop domestic exploration and production (E&P) projects under the new model of contracts, known as Iran Petroleum Contract (IPC), the company's project manager said on Saturday.

EghtesadOnline: Domestic companies will start operations to develop Phase 11 of the South Pars Gas Field in the Persian Gulf in October, managing director of Pars Oil and Gas Company, a subsidiary of state-owned National Iranian Oil Company that oversees the development of gas fields said.

EghtesadOnline: Pars Oil and Gas Company, a subsidiary of the National Iranian Oil Company, signed a $440m contract Saturday with domestic company Petropars to develop Belal Gas Field in the Persian Gulf.