29 Mar 2024
Friday 31 March 2017 - 12:03
Story Code : 255625

Iran eyes major project startups in oil industry during new year

Shana -- Iranian Minister of Petroleum Bijan Zangeneh says the new Iranian calendar year (began March 21) will be an exceptional year for Irans petroleum and petrochemical industries as several major projects are scheduled to come on-stream during the year.

This year, Iran will launch historic projects in the oil and petrochemical sectors that will be unprecedented in the country, said the official referring to new phases of the supergiant South Pars gas field that is share by Iran and Qatar in Persian Gulf waters as well as a number of petrochemical projects that will become operational this year.
South Pars development phases are known as SP projects.

Speaking to reporters during a visit to South Pars 20 and 21 projects in Persian Gulf on Thursday, he said SP 15, 16, 17, 18, 19, 20, and 21 projects (valued at almost $20b) were prioritized in 2013 for development and will come online in the new year, putting Irans natural gas production from the gas field more than that of Qatar.
11 South Pars phases became operational under President Rouhanis tenure since 2013, he said.
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