NIOC to Facilitate Private Sector Participation in Refining Projects

TEHRAN June 1 (Shana)--Deputy managing director of NIOC for investment said the company has laid the groundwork for participation of private companies in building 8 small gas condensate refineries in Assaluyeh and onshore installations of South Pars gas field.

Ali Kardar told Shana that the projects are expected to be profitable with a high level of economic returns.   
"After choosing the investors, the projects are expected to be complete in a 30-month period," he said. 
Kardar noted that the mini gas condensate refineries will produce naphtha, gasoline and gasoil adding naphtha could be used in petrochemical plants while the potentials for exporting gasoline and gasoil create a good opportunity for the private sector to benefit from participation in such projects.  
 According to Kardar, on average each mini gas condensate refinery needs about 300 million dollars in investment.
“Minister of Petroleum Bijan Namdar Zanganeh has called on attracting private investments for setting up mini LNG units, and NIOC’s investment department has started comprehensive studies on the issue,” the NIOC official said.
Kardar concluded NIOC also plans to persuade the private sector to invest in the NGL sector and build power plants under B.O.O and B.O.T contracts.  
News ID 218440

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