KARACHI - Iranian energy companies are exploring possibilities for joint ventures in oil and gas exploration activities in Pakistan. This was stated by the senior financial analyst of National Iranian Oil Company (NIOC) and heads of Iranian Pavilion, Reza Daneshgar while talking to APP at the 8th International Energy Exhibition POGEE 2010 at Karachi Expo Centre here Saturday. This is our first ever visit to Pakistan and we have come here to show our capabilities to Pakistani companies in oil and gas exploration and development, he added. He said that Iran wanted to expand cooperation in energy sector with its eastern friends and Pakistan, China and Malaysia are those countries with whom we want to promote our cooperation. Daneshgar pointed out that nine oil and gas companies and three energy companies are here at POGEE. All of these companies are subsidiaries of NIOC which had signed a final agreement with Pakistan in Turkey for the supply of natural gas under Iran-Pakistan gas pipeline project, he added. I am hopeful of the positive outcome of our participation in POGEE 2010. I will prepare and submit a report on the participation in POGEE 2010 to Iranian Ministry of Petroleum for future course. We will try to find a good formula for joint venture with Pakistani companies on the basis of this report, he said. He said that Iran International Exhibition Company (IIEC), Petrol Pars Co., Oil Pension Investment Company (OPIC), Jey Refining Co., Sepahan Oil Company, Oil Exploration Operation C0., Oil Industries Engineering & Construction Co., Iran Offshore Turbo Compressor Naft Co., National Iranian Tanker Co., are the part of Iranian Pavilion. To a question, he said that 28 phases of development of Pars gas field have been completed while 10 more are to be completed in due course to produce condensate for gas and LPG. A huge amount of investment would be required for its development to expand its production capacity and despite US pressure we are progressing ahead and float tenders this year. Daneshgar said that Iran would exercise 'buy back scheme if it could not get foreign funding for this project. Responding to a question about Pak-Iran gas pipeline, he said that Iran is approaching China to motivate this super power to take part in this gas pipeline which would require an estimated investment of $ 5 billion.