Wednesday, September 20, 2006

Oil and Gas: Iran and Venezuela begin joint drilling operation

Iran’s Petropars Oil Company and Venezuela’s Petroleos de Venezuela (PDVSA) have started a drilling operation on Venezuela's Ayacucho oilfield.

The Iranian President said that the message conveyed by the development of the major project is that the through unity, the independent and revolutionary nations would be able to conquer the peaks of progress.

Preliminary agreements on the Development of the oilfield had been signed during the office of Iran's former president Mohammad Khatami 18 months ago.