Petropars CEO Meets Venezuelan Ambassador:
Overcoming Challenges in the Jose Oil Terminal
Dr. Saghafi, head of Petropars Group, in a meeting with the Venezuelan ambassador, emphasized the continuation of bilateral cooperation in line with the national interests of the two countries.
According to the Public Relations and International Affairs of Petropars Group, a cordial meeting was held between Dr. Hamidreza Saqafi, CEO of Petropars Group, Mohmodreza Mesbah, Board Member and CEO of Petropars Group, and José Rafael Silva, the Venezuelan Ambassador to Iran. Both sides expressed satisfaction with the progress of the " Increasing the Storage and Dispatch Capacity of TAECJAA " and emphasized the need to resolve any financial or technical issues hindering this international project.
During the meeting, Dr. Saqafi stated that the successful execution of this project will benefit the economies of both nations. He added that the goal of Petropars' presence in Venezuela is not only to execute and complete the Jose Oil Terminal project but also to transfer technical knowledge to Venezuela’s oil and gas industry. Petropars aims to leverage Venezuela’s skilled workforce to ensure that a significant portion of the project is completed by local experts.
He further highlighted Petropars' interest in expanding its capabilities across various sectors of Venezuela's oil and gas industry. As the largest Iranian exploration and production (E&P) company, Petropars seeks to develop its activities in Venezuela.
Dr. Saqafi also noted that, in the near future, technical experts from both sides will hold specialized meetings to resolve the current challenges in executing the Jose project. He expressed Petropars desire for senior officials from Venezuela’s Ministry of Oil to become more familiar with Petropars technical and professional capabilities, aiming to strengthen bilateral cooperation in oil and gas development.
The CEO of Petropars reiterated the company's readiness to expedite the resolution of financial and technical issues related to the Jose project. He emphasized that from Petropars' side, there are no limitations on holding specialized meetings to address these challenges and called on the Venezuelan side to expedite the fulfillment of their financial obligations. This would enable Petropars to meet its commitments according to the agreed timelines.
Dr. Saqafi concluded by stating that Petropars is fully prepared to enhance its relationship with Venezuela’s Ministry of Oil and will continue to use its high technical and professional capabilities to support the development of Venezuela's oil and gas industry and transfer knowledge to local experts.
In this meeting, José Rafael Silva, the Venezuelan Ambassador to Iran, expressed his pleasure at meeting with Dr. Saqafi and visiting Petropars Group. He reiterated Venezuela's desire to expand industrial relations with the Islamic Republic of Iran, particularly in the oil and gas sectors. Ambassador Silva stressed the importance of resolving the financial and technical issues related to the "Capacity Expansion and Export Project of the Jose Oil Terminal" to ensure its timely completion. He noted that his presence at the meeting aimed to facilitate specialized discussions between Petropars Group and Venezuela’s Ministry of Oil, ensuring that financial and technical barriers are overcome to allow for greater bilateral cooperation in the oil sector.
It is noteworthy that, following a memorandum of understanding between the Ministry of Oil of the Islamic Republic of Iran and Venezuela, the contract for the capacity expansion and export of the Jose Oil Terminal was signed between Petropars and the Venezuelan National Oil Company (PDVSA) in February 2024. This is the first international oil and gas contract awarded to an Iranian company, executed under an EPC contract and financed by the Venezuelan side. Petropars has committed to increasing the storage capacity of the Jose Oil Terminal within one year.