Iran's Petropars in collaboration with a Venezuelan oil company is planning to develop an oil field in Venezuela.

Iran’s Petropars in collaboration with a Venezuelan oil company is planning to develop an oil field in Venezuela.

The formalities required for the presence and operation of the Petropars Oil Co. in Venezuela have been completed and a branch office of the company is already operating in that country, a report quoted Qolamreza Manuchehri, the managing director of Petropars Oil and Gas Co. as saying here on Sunday.