BAKU, Azerbaijan, Dec. 26
By Elnur Baghishov – Trend:
The establishment of an oil and gas company in the Ilam Province (western Iran) could boost the activities of the oil sector in the province, said the Governor of Iran’s Ilam Province, Qassem Soleimani Dastak said, Trend reports citing IRNA.
He made the remark in an event dedicated to the launch of three petrochemical facilities in Iran.
According to Soleimani Dastak, Iran's Ilam province accounts for 3 percent of the country's oil reserves and 11 percent of gas reserves.
He added that large investor companies are interested in investing in certain areas of the oil and petrochemical sectors of the province.
The governor noted that in general, 7 billion euro have been invested in the oil and gas sector of Ilam Province in recent years.
As reported, on Dec .24, three petrochemical facilities have been launched in Iran with an investment of 916 million euros. The Ilam Petrochemical Company's desulfurization and olefin units, Urmia Petrochemical Company's potassium sulfate unit, and Hegmataneh petrochemical plant are the launched facilities.
Iran is implementing two plans to increase the production of petrochemical products. According to the first plan, Iran's petrochemical production will increase from 66 million tons to 100 million tons per year, and the revenues from $15 billion to $25 billion until March 20, 2022.
According to the second plan, Iran's petrochemical production will reach 133 million tons per year and the revenues will reach $37 billion by March 20, 2026.
Iran produced 31 million tons of petrochemicals last Iranian year (March 21, 2019 - March 20, 2020). Of these, 8 million tons were sold within the country, and 23 million tons of products were exported. The total sale value was $15 billion.