Iran eyes petchem deal with Total in a month

SHANA — Iran is about to sign a petrochemical deal with French energy major Total by November, a petrochemical official said.

Director of investment at National Petrochemical Company (NPC) Hossein Alimorad said the Persian Gulf Petrochemical Industries Company (PGPIC) is about to sign a contract with Total to carry out economic studies on a petrochemical project in Iran within the next month, NIPNA reporterd.

He said preliminary studies over the project have been carried out by a third Iranian company and the Total-PGPIC deal will be signed soon.

The studies are intended to appraise the economic justifiability of the project, he added.