$ 4.5 billion contract for oil and gas field development / petrochemical production capacity reaches 140 million tons

According to the economic correspondent of Fars News Agency, the Minister of Oil, Javad Oji, stated today at the opening of the Iran Plast exhibition, referring to the development of the oil industry after the revolution: The petrochemical industry is one of the achievements of the Islamic Revolution. At the beginning of the revolution, the production of this industry was between 1.5 to 3 million tons, which included chemical fertilizers, but after the revolution and with the efforts of Iranian experts, today the production of the petrochemical industry has reached 99 million tons in 1400. Current products include a wide variety of polymer, aromatic and chemical products.

He said: “Iran, with 153 billion barrels of oil and 33,000 billion cubic meters of extractable gas, is the largest holder of hydrocarbon resources in the world.” After the revolution, with the help of Iranian engineers, we developed the country’s oil industry and obtained the latest technologies in the world, such as in the horizontal drilling of wells and the development of offshore fields and the development of the gas industry.

The Minister of Oil added: “Before the revolution, there was only Bidboland gas refinery with a capacity of 25 million cubic meters, but now the capacity of our refineries is one billion cubic meters per day.” Before the revolution, not only 4 or 5 cities were supplied with gas, but now the gas supply coefficient in rural areas is 85% and the gas penetration coefficient in cities is 98%. In no country has such welfare been created for the people and Iran is unique in this regard.

* The production capacity of the petrochemical industry will reach 140 million tons by 1406

Oji said: “Good things will happen in the petrochemical industry in the thirteenth government, and God willing, the production capacity of this industry will reach 140 million tons per year by 1406.” The development of the petrochemical industry should be done with the aim of developing the value chain to the complementary industries, because there is added value and main employment in the complementary industries, and on the other hand, its investment volume is low.

The Minister of Oil said: in the petrochemical industry, the front line is knowledge-based companies. Many catalysts have been localized in this industry, which is a great achievement by Iranian experts.

He pointed out: The least shocks of sanctions in the field of exports are related to the petrochemical industry, so there was no disruption in the export of petrochemical products, and this year $ 10 billion in export currency was injected into the Nima system.

* A $ 4.5 billion contract for field development has been signed so far

“Development of joint gas and oil fields is important,” Oji saidMost Are the priorities of the Ministry of Oil. In the 13th government, $ 4.5 billion worth of contracts have been signed for the development of fields from domestic and foreign sources.

The Minister of Oil added: “We have entered into development contracts with capable domestic companies in the form of consortia and large holdings.” There are also contracts with foreign companies, which we will explain in due course. Apart from oil contracts, 10 memorandums of understanding have already been signed with foreign countries, which will lead to the contract within the next 3 to 4 months.

“We will not wait for the outcome of the Vienna talks,” Oji said. Gas has started.

* Inviting petrochemical holdings to invest in the development of gas fields

“Construction,” he said Petro Refineryهمواره is another priority of the Ministry of Oil that always Emphasized The Supreme Leader has been appointed. The construction of these units, in addition to supplying the country with fuel, also provides food for petrochemical units.

Oji said: Under the law supporting the development of downstream industries, 8 projects Petrochemical With a capacity of about 1.46 million barrels per day, the regulation of this law was amended in the 13th government to increase its attractiveness to investors. Inshallah one Petro Refinery 300,000 barrels will be built by the Ministry of Oil itself under the 1401 budget bill.

The Minister of Oil emphasized: Petrochemical holdings have very good incomes that can be used to invest in the development of gas fields. In this way, we are ready to give a gas field to the petrochemical holdings from the beginning to the end to develop their supply from the products of that field.

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