Sakhawat Asadi said on Wednesday that nearly $150 billion has been invested in the PSEEZ, stating: “More than 70% of the country's gas and nearly 50% of petrochemical products is produced in this area.”

More than $11 billion were exported from the region in the first 10 months of this year, which has increased by about 50% compared to the same period last year.

The PSEEZ CEO continued: “Despite all the bottlenecks and cruel sanctions, 26 projects in the upstream and downstream sectors of the oil industry with an investment of $21 billion are being implemented in PSEEZ, which are progressing from 10 to 80 percent, and this investment is done through finances and the participation of domestic banks. These 26 plans include five 300,000-barrel refineries, seven PDH plans, three olefin, methanol, urea, and ammonia plans, etc.”

Esadi said: “This year we hosted delegations from China and Russia that visited PSEEZ and negotiations were held for the development of some fields and we hope that these negotiations will come to a conclusion.”