Published in Official Gazette no. 39,577 on Monday, December 20, 2010 (pages 2 and 3 undefined), the limping congress of Hugo Chávez announced the creation of a joint venture with Petropars UK Limited, a London-based entity fully owned by Petropars Ltd undefined. Petropars UK Limited and its parent company are part of a list of companies sanctioned by the U.S. Department of the Treasury undefined, determined to be controlled by the Iranian government. This designation is the first by the United States to implement United Nations Security Council Resolution 1929 undefined, based on actions ordered by the Security Council.
Seyyed Mehdi Mir Moezi, Gholamreza Manouchehri, and Nematollah Alirezaei are names linked to Petropars UK Limited, whose records at Companies House show a capital statement dated March 25, 2010, of £100,000. Furthermore, the records indicate that the company is inactive. Despite this, the Venezuelan congress has announced the establishment of a partnership between the Venezuelan Oil Corporation and Petropars Limited UK, granting the latter exploration, production, transportation, and storage rights for oil over a 25-year period, across an area of 353.15 square kilometers. This concession is located in the Dobokubi oil field. (Note: Setty incorrectly states in the linked article that potential issues will be resolved by international arbitration, when in fact, clause 12 of the agreement establishes the “laws of the Republic” of Venezuela as jurisdiction).
OFAC shows a record of Petropars in Venezuela undefined as PETROPARS LTD. (also known as PETROPARS LIMITED; a.k.a. “PPL”), Calle La Guairita, Centro Profesional Eurobuilding, Floor 8, Office 8E, Chuao, Caracas 1060.