One of the few Iranian companies which can afford to sit on the sidelines and wait for more details of the planned IPC rules and tenders is Pars Petro Zagros Engineering & Services Company (PPZ),
writes Vahe Petrossian.

A mid-sized specialist with about 400 staff of mostly skilled engineers, PPZ is in no hurry, says managing director Manouchehr Shapouri.

“We are waiting for the picture to clarify,” Shapouri says.

PPZ has been around since 2004, when it was set up by the former National Iranian Oil Company engineer and some of his colleagues as perhaps the country’s biggest private engineering house.

PPZ has over the past decade been inundated with work — carrying out reservoir and well studies and drawing up master development plans.

PPZ’s workload covers some of the most complex reservoirs in the country, including the highly challenging Azar field in the Anaran block once explored by Statoil of Norway.

Each well at Azar has been taking a year to drill, says Shapouri.

PPZ has also been playing an important role in the planned development of the Kish gas field and other oil and gas reservoirs in the Persian Gulf.

In recent months, the consultant has inevitably had approaches from construction and engineering companies with little or no oil and gas experience to team up with them in forming joint ventures with foreign E&P players.

“Exactly what role PPZ will play as Iran gets moving with upstream projects in the coming months is not clear,” says a source familiar with the company. “But whatever it is, it will be an important one.”

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