Officials in Iran have asked international companies to come on board for oil and gas projects, despite the new sanctions imposed on the Islamic republic. The developers of the giant South Pars gas fields in the Gulf have said they want international companies from the East and West to express interest in being part of the project. While the major world powers have imposed more sanctions on Iran over its controversial nuclear program, the Pars developers have said they should not be deprived of foreign help.
South Pars holds about eight percent of world gas reserves with many contracts already in place with large overseas consortiums. But with Iranian companies now leading much of the project work, the concern is that new technology will not be available if the oil developers need it.
