Sepahdar Ansari-Nik, speaking on the sidelines of the 29th International Oil, Gas, Refining, and Petrochemical Exhibition, highlighted Bandar Imam Petrochemical’s involvement in the major "Marun Diamond" project. He stated that the project is one of the key initiatives of the Persian Gulf Petrochemical Industries Group and will soon be implemented in the region.

Ansari-Nik noted that the project includes the construction of polyolefin production units, calling it a significant step in completing the value chain. He added that over the past three decades, feedstocks such as propane, butane, and pentane were exported raw, but this project will convert them into polyolefin, turning them into finished petrochemical products instead of raw exports.

BIPC’s steps toward production expansion 

Referring to this year’s slogan of "Investment in Production," the CEO said all development projects at BIPC are aligned with this approach. So far, over 4 trillion tomans has been invested in modernizing production units, resulting in 56 projects becoming operational in 1402. Additionally, more than 150 other projects are currently underway.

Ansari-Nik also mentioned national projects aimed at completing the value chain, including the large-scale "Coral-Calita to PVC" project, which involves an investment of about $1 billion. Another project, the Aromatic Chain Development, has entered the execution phase with a $50 million investment. A $50 million ethane extraction project is also expected to be operational by the end of this year.

$150m investment in flare gas reduction 

Regarding the company’s efforts to reduce gas flaring, Ansari-Nik emphasized that related projects are being implemented in collaboration with the National Iranian Oil Company. A $150 million contract has been signed with the Persian Gulf Hoveyzeh Refinery for the Darkhovein and Jofeir regions, with work already underway.

He added that pipeline operations are in progress, funded by Bandar Imam Petrochemical. Over the past two years, the company has also supplied 450 billion tomans (about $10.7 million) worth of equipment for NIOC’s NGL units 700, 800, 1200, and 1500 to reduce flaring, ensure production stability, and improve maintenance conditions.

Ansari-Nik said the company has requested NIOC’s approval for an annual $20 million investment to modernize NGL facilities, which would be financed through feedstock contract offsets. The proposal is awaiting final approval from NIOC to be included as an amendment to the feedstock agreement.

Environmental projects alongside production growth 

Highlighting Bandar Imam Petrochemical’s environmental focus, Ansari-Nik said all flaring reduction projects are designed to align with lower carbon emissions while boosting production. A new wastewater treatment plant has also been launched to control discharges into the Khourmousa, with further upgrades planned for modernization.

Other projects include reducing hydrocarbon vapor emissions and optimizing energy use in power plants, implemented in partnership with the Persian Gulf Petrochemical Industries Group.

Ansari-Nik also announced the company’s entry into renewable energy, with a new subsidiary focused on solar power. Bandar Imam Petrochemical has formally expressed readiness to finance 200 megawatts of solar power as part of the Persian Gulf Industries Group’s 4,000-megawatt program, with plans to begin implementation soon.