Mar 13, 2016, 4:52 PM
NPC, Total sign MoU

TEHRAN, Mar. 13 (MNA) – National Petrochemical Company (NPC) of Iran and France’s Total S.A. have signed an MoU to build a petrochemical complex.

Following the signing of a deal by Total Oil Comany for daily purchase of 160 thousand barrels of Iranian crude oil, inking of an MoU with Research Institute of Petroleum Industry (RIPI) of Iran as well as conducting negotiations with the National Iranian Oil Company (NIOC), the French company has sealed a cooperation agreement with NPC to build a petrochemical complex.

It has been menitioned in the joint statement of NPC and Total that “the two sides have signed a Memorandum of Understanding (MoU) on constructing a petrochemical complex in Iran and the project will be implemented in partnership with the Iranian private sector and France’s Total.”

Accordingly, the complex will include a steam cracker unit in the in the coastal area with global scale and based on a combination of feed comprising of ethane, naphtha, LPG as well as other available feed.

In addition to steam cracker unit, the complex will include relevant downstream units for supplying its products to domestic and international markets.

On the basis of the MoU, France’s Total will undertake preliminary studies and evaluations for the construction of the petrochemical complex in line with laws and regulations of the Islamic Republic of Iran.

In the MoU signing ceremony, the two sides expressed their willingness to cooperate in order to being about further synergies leading to mutual benefits.




News Code 115177


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