TEHRAN Dec 29 (Shana)–The banking advisor for financing the Kharg NGL project has been selected through a public tender. The advisor is legally required for tapping the National Development Fund of Iran (NIDFI) for financing the project.
He said the advisor will be announced within the next two weeks.
The rest of the needed financing will be supplied from Iran’s budget for the next fiscal year, he added.
With the completion of Kharg NGL, the flare of Abouzar oil platform will be set off and up to 25 mcf of gas will be used in petrochemical and oil facilities instead of being flared.
The NGL project will also produce ethane, propane, pentane, butane and natural gas.
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