Azerbaijan, Baku, Feb. 16 / Trend, A.Yusifzade /
With the implementation of Bushehr and Marjan petrochemical complexes construction projects Iran's petrochemical production capacity will reach over 95 million tons per year by the end of the fifth development plan (2011-2016), Shana reported quoting Iranian minister of petroleum Seyed Masoud Mirkazemi as saying.
Addressing at the inauguration ceremony of the Mobin petrochemical plant in Assaloyeh (onshore installations of the South Pars gas field in southern part of Iran), Mirkazemi noted that by launching the electricity and steam units of Mobin petrochemical plant, the plant has been completely integrated and hereafter the complex will supply the other petrochemical plants in the region with their electricity and steam needs.
"The project that came on stream today includes two electricity units each with 123 megawatt production capacity and two steam production units each capable of producing 330 tons of steam per hour," Mirkazemisaid.
Referring to the nearly $150 million cost of the project, the official noted that the project would help to a great amount to expanding petrochemical industry and job creation in the region.
In addition to Mobin project, other petrochemical projects would come online over the next days increasing Iran's petrochemical production capacity to 51 million tons per year, he added.
In connection with the latest situation of South Pars gas field phases, Iran's minister of petroleum stated that new phases contracts had been concluded and the ongoing phases' development was satisfactory.
Expressing satisfaction with the speed of activities in developing South Pas gas field phases, Mirkazemi said the ground had been leveled for starting construction activities and necessary contracts had been concluded for domestic and foreign goods purchasing amid providing the needed technical documents.
On gasoline production, Mirkazemi noted that we are going to export 1.5 billion liters of the product, mainly to the neighboring countries, before the end of the current Iranian calendar year ending March 20 2011.
Iranian petrochemical sector produced 31.113 million tons of petrochemical products over the first ten months of the current Iranian calendar year (started March 21, 2010).
Earlier Mirkazemi said that Iranian petrochemical sector has defined some projects worth $49 billion, while some of them have progressed by 98 percent.
"This amount of investment indicates that petrochemical sector will achieve its targets in the Middle East before reaching the Outlook Horizon in 2026," Mirkazemi said.
According to Mirkazemi, during the Fifth Five Year Development Plan (2011-2016), more than $200 billion would be invested in Iran's oil industry. "Even before sanctioning the Fifth Five Year Development Plan, 40 to 50 percent of the oil industry projects have concluded their contract with local banks and companies.