The PST file format is described in the Outlook Personal Folders (.pst) File Format section of MSDN.
It is not clear when and where you are going to run the code... Remember that Microsoft does not currently recommend, and does not support, Automation of Microsoft Office applications from any unattended, non-interactive client application or component (including ASP, ASP.NET, DCOM, and NT Services), because Office may exhibit unstable behavior and/or deadlock when Office is run in this environment.
If you are building a solution that runs in a server-side context, you should try to use components that have been made safe for unattended execution. Or, you should try to find alternatives that allow at least part of the code to run client-side. If you use an Office application from a server-side solution, the application will lack many of the necessary capabilities to run successfully. Additionally, you will be taking risks with the stability of your overall solution. Read more about that in the Considerations for server-side Automation of Office article.
So, if you are going to run the code on the server-side or from a windows service, Outlook automation is not for you. You need to consider any third-party libraries or components designed for server-side execution.
For example, you may take a look at pypff which is a python wrapper for the C library libpff
that allows accessing emails and the directory structure of Pst files within python.
import pypff
pst = pypff.file()
pst.open("MyPst.pst")
pst.close()
Also, you may find the Read PST files from win32 or pypff page helpful.