Project
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Deputy minister:
Gov’t, investors work to resolve financial challenges in projects
SHANA (Tehran) – The deputy planning minister of petroleum emphasized the importance of collaboration between the government and investors to address financial challenges in projects, stating: "One-sided concessions are not feasible under current conditions, and full cooperation from both sides is essential to overcome obstacles."
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Projects worth $45m approved by NIOC in four months
SHANA (Tehran) – The director of integrated planning at the National Iranian South Oil Company announced the approval of 12 new capital projects worth 3.6 billion tomans (approximately $45 million) during the first four months of the 14th administration.
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Project to increase Cheshmeh Khosh oil field output put into operation
SHANA (Tehran) – A project to increase the crude oil output in Cheshmeh Khosh field, western Iran, became operational on Tuesday.
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NPC chief: One petrochemical project to be inaugurated each month
SHANA (Tehran) – The managing director of Iran’s National Petrochemical Company (NPC) on Monday announced that one petrochemical project will be inaugurated on average each month of the current Iranian calendar year starting March 21..
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Value-Creating Projects in Iran’s Oil Industry
TEHRAN (Shana) -- Over recent years, Iran's oil industry has enjoyed significant acceleration and progress in the exploitation of projects. By briefly reviewing the development process of the remaining phases of the massive South Pars gas field, other joint fields and implementation of various contracts in oil and gas fields, it could be construed that the development of Iran's oil industry has never stopped notwithstanding the sanctions, and has retained its role as the driver for growth, prosperity and wealth creation in the country’s economy. The present article aims at reviewing the development of some of the most important projects in Iran's oil industry since the 13th administration took office until the end of Iranian calendar year 1400 (March 20, 2022).
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Salman Farsi Propylene Project, 67% Complete
TEHRAN (Shana) -- The CEO of Salman Farsi Petrochemical Project said the progress of this strategic and important project, which is being carried out for the first time in the country, has reached 67%.
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Iran to Launch $8b Oil Projects by March 2023
TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji said a number of unfinished petroleum projects worth $8 billion in total are scheduled to come on stream by the end of the current Iranian calendar year to March 23, 2023.
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First Vice President:
$200 b Earmarked for Iran Major Projects
TEHRAN (Shana) -- The first vice president said 200 billion dollars have been earmarked for the country's major projects in various sectors, including oil, industry, water, and electricity.
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Oil, Petchem Sectors Key to Attracting Investment, Production Boom
TEHRAN (Shana) – Iranian President Ebrahim Raisi said directing liquidity towards production growth, benefiting from technical power and attracting domestic investment are very effective in the economic growth and progress of the country.
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Owji: Ministry of Petroleum to Launch Over 40 New Projects Worth $30bn This Year
TEHRAN (Shana) – Iran’s Minister of Petroleum Javad Owji here on Monday announced that his ministry will launch more than 40 projects worth $30 billion this year.
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Bank Mellat Fully Ready to Boost Oil Investment
TEHRAN (Shana) -- The CEO of Bank Mellat announced the bank's 100% readiness as an energy bank to enhance investment in oil industry projects in hard currency and Rials.
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Crude Oil Loading to begin at Jask Terminal in Days
TEHRAN (Shana) – A senior official with the National Iranian Oil Company (NIOC) said that the crude oil in the Goreh-Jask pipeline will reach the Jask terminal in about 20 kilometers and “we expect the first shipment of crude oil to be loaded by the end of the week.”
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32 Petchem Projects in 8 Years
TEHRAN (Shana) -- On May 20, three petrochemical projects came online. They were Sabalan methanol project with annual capacity of 1.65 million tonnes, Masjed Soleyman urea and ammonia plant with annual capacity of 1.7 million tonnes and Assaluyeh Exir Hallal project with annual capacity of 50,000 tonnes of pentane and hexane. President Hassan Rouhani officially inaugurated the projects.
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Ab Teimour Up for Investment
TEHRAN (Shana) -- Although ten giant oil fields in Iran account for the bulk of Iran's oil production, they are all in the second half of their lifecycle as inadequate investment in them, over years, has left their recovery rate at a low level.
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Financing Plan of Petchem Projects Clear: Official
TEHRAN (Shana) – An official with the National Petrochemical Company (NPC) said the company had clear plans for financing petrochemical projects in the second and third leap of the industry in Iran.
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OIEC, POGDC Ink Cooperation Agreement
TEHRAN (Shana) -- Oil Industries' Engineering and Construction (OIEC) and Parsian Oil and Gas Development Company (POGDC) signed a memorandum of understanding to expand cooperation in the upstream and downstream sectors of the oil industry.