Hassan Abbaszadeh emphasized that increasing added value aligns with the country's broader policies and expressed hope that this objective will be achieved by the end of the 14th government's term.

Abbaszadeh, speaking to reporters on Wednesday ahead of a development and planning council meeting in Asaluyeh County, congratulated the public on the occasion of the Ten Days of Fajr.

He noted that the Polymer Pad Jam project, a subsidiary of Jam Petrochemical, was inaugurated during the president's provincial visit to Bushehr.

Abbaszadeh highlighted that the project, which converts semi-processed materials into value-added products, is a key part of the petrochemical value chain.

He said the initial phase of the Polymer Pad Jam project required an investment of $620 million, with over $400 million spent to complete and operationalize the first stage. The next phase, set for completion in 2026, will produce rubber.

Petrochemicals: Key to reducing raw material sales

The deputy oil minister reiterated that the petrochemical industry's goal is to complete the value chain, reduce raw material sales, and increase added value in line with national policies.

He expressed optimism that these objectives would be met by the end of the 14th government's term.

Abbaszadeh stressed that the petrochemical industry plays a crucial role in preventing the sale of raw materials in the oil sector.

He explained that the industry transforms hydrocarbon resources into intermediate products and processes semi-finished materials through the final stages of the value chain.

Petrochemical companies enter gas field development

Abbaszadeh also pointed to efforts by petrochemical companies and holdings to collect flare gas for feedstock.

He mentioned that flare gas collection is underway in the western and eastern Karun regions.

He added that petrochemical companies are involved in collecting flare gas in the Asaluyeh region, with several projects in the area nearing completion and set to be inaugurated in the coming months.

Addressing the issue of limited gas feedstock for petrochemical complexes due to inefficient consumption, Abbaszadeh said that to ensure a stable supply of feedstock, petrochemical companies have entered the development of the country's gas fields.