Iran oil minister: 68 semifinished projects to become operational by mid-March 2024

SHANA (Tehran) – Iran’s oil minister on Monday said 68 semifinished projects worth $15 billion will be put into operation by the end of the current Iranian calendar year (March 19, 2024).

Javad Owji, who made the announcement in the inauguration ceremony of Gachsaran olefin plant in the southwestern province of Kohgilouyeh and Boyer-Ahmad, added 130,000 barrels of oil and 40 million cubic meters of gas will be added to the country’s output when the projects come on stream.

Projects of Phase 2 of Abadan Refinery-Integrated Petrochemical Plant, refinery of Phase 14 of South Pars gas field, and associated petroleum gas (APG) collection were among those inaugurated in recent months, mentioned the minister, continuing the third olefin plant of the country was also put into operation today after long years.

He explained that APG of oil fields in southern Iran are processed at Persian Gulf Bidboland Gas Refinery and the produced ethane is transmitted to Gachsaran Petrochemical Complex.

He referred to the lengthy construction of Gachsaran Petrochemical Complex, lasting for 17 years, adding his ministry accelerated the implementation of the project in the past two years and managed once again to develop the country’s petrochemical value chain.

Inauguration of five more petchem projects

Owji said five more petrochemical projects will be inaugurated within the next eight months.

He also said South Pars Phase 11 will be ready soon for official inauguration in the presence of the president after a two-decade hiatus.

Given Kohgilouyeh and Boyer-Ahmad’s 92 billion barrels of oil in place (OIP), the southwestern province can produce 500,000-600,000 barrels per day (bpd), said the minister, continuing the Oil Ministry has planned oil and gas projects worth $2.6 billion for the province over the past two years.

According to him, Dehdasht Petrochemical Complex, whose feed is supplied by Gachsaran Petrochemical Complex, will become operational by mid-March 2025.

News ID 475756


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