Aug 5, 2023, 9:25 PM
News ID: 85190159
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Projects underway in Iran’s South Pars amount to $21bn: Official

Tehran, IRNA - Twenty-even projects worth $21 billion are actively underway in South Pars energy region which include the world’s largest gas field located on the maritime border between Iran and Qatar, an Iranian official has said.

“Out of the $150 billion investments made in the gas and petrochemical sector in South Pars, currently $21 billion is being implemented through 27 projects,” Sekhavat Assadi, managing director of the Pars Special Economic Energy Zone (PSEEZ), said on Saturday.

He pointed out that the "unjust Western sanctions" have failed to hinder progress in Iran’s oil and gas industry.

“Currently, the construction of four petrochemical refineries is in progress in South Pars, and upon completion and launch of these facilities, there will no longer be a need to export gas condensates from the shared South Pars field,” the official added.

Statistical analysis indicates there has been a 40% increase in exports from the South Pars region to foreign markets, amounting to $15.3 billion worth of revenues for Iran in the past calendar year to late March compared to the same period in the year before, he noted.

Assadi also reminded that 100% of the feedstock for the Persian Gulf Star Refinery, which supplies around 40% of Iran’s gasoline supply, is sourced from Pars South.


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