The minister told a group of private petroleum industry activists that the plan would be implemented in eight refineries in Pars Special Economic Energy Zone.

Zanganeh said the eight mini-refineries are constructed on more than 400 ha of land.

“With the construction of these refineries as well as Persian Gulf Star Refinery, Iran will convert all its gas liquids exceeding one million barrels a day to valuable products inside the country,” he said.

Zanganeh added the National Development Fund (NDF) balance is expected to rise as Iran is getting access to its frozen funds.

The minister said Iran will be raising the capacity of its crude oil and gas liquid production to 5.5 mb/d in four years.

Zanganeh also said that Petroleum Ministry is obligated to accelerate the development of joint hydrocarbon fields, boost petrochemical production capacity, increase gas and oil products exports, enforce efficient energy use, diversify oil products and win oil and gas customers.