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Unprecedented Growth in Petchem Output in 1399

(Tuesday, July 21, 2020) 18:28

TEHRAN (NIPNA) – Iranian Minister of Petroleum Bijan Zangeneh said the country would experience an unprecedented growth in its petrochemical production capacity in the current Iranian calendar year of 1399 which began on March 20.

Speaking to reporters on the sidelines of a ceremony to sign a contract for completing the development of South Azadegan Oilfield on Monday, Zangeneh said 25 million tons would be added to Iran’s petrochemical production capacity this year which is unprecedented in the industry’s history.

He said production capacity of the country’s petrochemical sector would reach 100 by 2021 from currently 66 mt/y which would be marked as the second petrochemical leap in the country.

The official further said, "Soon, nine contracts for the maintenance and enhancement of oil production (EPC/EPD) will be signed with Iranian companies and the Oil Research and Technology Fund will be activated.”

The official further said that 9 EPC/EPD contracts would be signed with local firms in the near future, adding the Oil Research and Technology Fund would also be activated.

He also touched on the Azadegan contract, saying the project would bring the joint field’s productivity to 320,000 b/d from currently 140,000 b/d.

Moreover, 200 mcf of natural gas would be produced in the project which would be used to feed the NGL 3,200 plant.

“Our priority is the development of joint fields, the most prominent of which are the fields in West Karun region and the South Pars gas field,” he said.

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(Tuesday, July 21, 2020) 18:28
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