Total to joint Iran petchem sector: Official

Shana — A senior petrochemical official said French energy major Total will return to Iran’s petrochemical sector in a bid to complete the industry’s value-chain.

Addressing a conference in Vienna, Managing Director of National Petrochemical Company (NPC) Marziyeh Shahdaei said the French energy giant will sign deals with Iranian petrochemical partners to complete the petrochemical value chain in Iran now that many restrictions regarding economic sanctions have been eased on Iran.

She said European investors are keen on joining projects in Iran in the post-sanctions setting.

Iran’s first midstream and downstream petrochemical industries conference opened in Vienna, the Austrian capital, on Thursday.

Senior Iranian and European executives, investors and technocrats attended the two-day conference.

The conference is aimed at luring national and international investors and technocrats into financing petrochemical projects in Iran via holding joint ventures with important international companies.

Several high-ranking Iranian and foreign officials, including Iranian Ambassador to Vienna Abdollah Molaei, Marzieh Shahdaei, the managing director of National Petrochemical Company (NPC), Iran’s Deputy Economy Minister Mohammad Khazaei, Richard Dalton, President of British-Iranian Chamber of Commerce as well as Werner Fasslabend, Head of the Austrian-Iranian Society also attended the gathering.

The conference was aimed at assessing novel methods and means for expanding mid-stream and downstream sectors of petrochemical industry by establishing joint ventures, ensuring technology transfer and technical knowhow and attracting investments for petrochemical projects.

The two-day conference wrapped up on Friday.