6 SP phases become operational: oil min.

TEHRAN, Apr. 04 (MNA) – Bijan Zanganeh, while pointing to operation of six new South Pars phases, said the Government and Judiciary could pave the path for attracting new investments.

The Iranian minister of petroleum said supplying feedstock to petrochemical complexes was high on agenda expressing satisfaction that the country’s petrochemical industry was moving forward and making progress.

“Besides supplying feedstock to petrochemical plants of South Pars joint gas field, de-ethanizing at Phase 12 marks yet another priority which will hopefully eliminate major concerns as regards feedstock supply,” he continued.

He once more reiterated that petrochemical plants were being provided with their required feedstock saying “a very bright future is seen for petrochemical industries as it will become more prosperous and developed if the country moves towards reconstruction and development.

He referred to operation of six new South Pars phases noting that in addition to the ethane production at South Pars phases, ethylene and methanol needed for other petrochemical units were also being produced.

Bijan Zanganeh later emphasized the need to support investors asserting “part of investment security pertains to the government and ministries though it should be noted that stability of rules can attract investors to the country while fluctuations and changes in regulations could worry investors.”

“Constantly changing the rules could affect arrival of new investors in various sectors of oil industry and national commitment therefore needs to be exercised to bring stability to rules and procedures,” he continued.

The senior oil official wrapped up his remarks by underlining that Iran’s Government and Judiciary could provide grounds for new investments and expressed optimism that increased amount of investment in the petrochemical industry will be observed in the Iranian petrochemical industry.


News Code 124574


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