Iranian oil company Pars will sign an agreement with GS Oil from South Korea with an estimated value of 240 million euros. The agreement will be signed by the managing directors of the companies on Monday evening, IRIB reported.

The Korean company agrees to sweeten 900,000,000 square feet of sour gas produced in South Pars oilfield, every day.

The development plan for phase six, seven, and eight of the South Pars oilfield is the largest plan in Iran's oil industry.