Baku, Azerbaijan, July 19
By Fatih Karimov - Trend: Iran's Petropars Oil Company may contact Venezuela in the near future to resume cooperation, said Mohammad Javad Shams, the company's managing director.
"If implementing projects are economically justified, and if political supports are established, the cooperation will continue," Iran's Shana news agency quoted Shams as saying on July 19.
"Considering that Petropars has been excluded of the sanctions list, our activities will be certainly accelerated and the purchase of parts will be eased," he added.
In May 2014, Shams said that after closing Petropars office in Bolivia's Santa Cruz de la Sierra, Iran has stopped cooperation with PDVSA, Venezuela's state-owned oil company.
Shams voiced the company's readiness to resume a project to develop the Dobokubi oil field in Venezuela.
The project aimed at increasing the oil field's production from its present 14,000 barrels per day to 40,000 bpd.
"Due to some circumstances set by the Venezuelan side, we were unable to complete the project, therefore it was suspended," Shams said.