Following submission of the group's proposals for developing the field, Pergas Managing Director Colin Rowley said the consortium's operations are not affected by political conditions and the remarks of politicians outside of Europe.

During a meeting between Pergas officials and the National Iranian South Oil Company (NISOC) executives, he said Iran's oil industry can become the paradise of international investors.

The consortium submitted the proposal for a master development plan of the oilfield to NISOC on Tuesday.

Rowley said the consortium has so far invested the amount on studying the field and is keen on investing in its development.

Pergas International Consortium (P.I.C) established itself in 2001 as both service provider and procurement service to the oil, gas and petrochemical industry in the Eastern Hemisphere and has carried out many projects in Middle East, South East Asia and Africa over these years of operation.