Iran to raise gas liquids processing capacity

Tehran April 8, IRNA – Iran’s Petroleum Minister Bijan Namdar Zanganeh said that the country plans to increase its gas liquids processing capacity by 500,000 b/d.

The minister told a group of private petroleum industry activists that the plan would be implemented in eight refineries in Pars Special Economic Energy Zone, the Petroenergy news network SHANA reported on Tuesday.

Zanganeh said the eight mini-refineries are constructed on over 400 hectares of land.

“With the construction of these refineries as well as the Persian Gulf Star Refinery, Iran will convert all its gas liquids exceeding 1m b/d to valuable products inside the country,” he said.

Zanganeh added that the National Development Fund (NDF) balance is expected to rise as Iran is getting access to its frozen funds.

The minister said Iran will be raising the capacity of its crude oil and gas liquid production to 5.5 mb/d in four years.

Zanganeh also said that Petroleum Ministry is obligated to accelerate the development of joint hydrocarbon fields, boost petrochemical production capacity, increase gas and oil products exports, enforce efficient energy use, diversify oil products and win oil and gas customers.

By IRNA

 

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