Total begins activity in Iranian petchem industries

News ID: 3715846 -
TEHRAN, Jul. 17 (MNA) – France’s Total S.A. has embarked on studies and economic evaluation for construction of a petrochemical complex in Iran’s Parsian Special Economic Energy Zone.

Undoubtedly, Total oil company of France has been the most active European firm in the Iranian oil, gas and petrochemical industries over the past six months.

Following the signing of a contract to purchase 160 thousand barrels of Iranian crude per day, Total has also inked a confidentiality agreement for development of South Azadegan oilfield.

Moreover, the French company has also conducted several talks with Research Institute of Petroleum Industry (RIPI), National Petrochemical Company (NPC) as well as with the National Iranian Oil Company (NIOC) over development of South Pars Phase 11.

Along the same line, a delegation comprising Total representatives made a visit to Parsian Special Economic Energy Zone in southern Iranian province of Hormozgan.

The visit was made following the Memorandum of Understanding (MoU) which was inked last year between Total S.A. and Iran’s NPC over designing, constructing, installing and implementing of a petrochemical complex.

The French company aims to launch economic evaluation studies for construction of a possibly polyethylene complex in the area.

Meanwhile, Managing Director of the National Petrochemical Company (NPC) Marzieh Shah-Daei had said earlier in March that “on the basis of negotiations, Total company has been urged to use a combination of gas and liquid feed baskets as well as to complete the country’s value chain in petrochemical industries.”

She had said Total is after building a petrochemical complex in Iran for producing various grades of polyethylene.

Parsian Special Economic Energy Zone is located in Hormozgan province in the south of Iran possessing enough natural gas and condensate for development of petchem industries.

Representatives of Germany’s BASF SE had also visited the zone aiming to construct a petrochemical complex as well as to make an investment of about four billion dollars in Iran.

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