Iran allocates $800M for Kharg NGL project
Baku, Azerbaijan, Oct.17
By Fatih Karimov - Trend:
Iran has allocated $800 million from the National Development Fund for the construction operation of the Kharg NGL project in the country's southern Kharg Island.
Iranian Oil Ministry official Mohammad Hossein Ardeshiri said the project needs still $200-300 million to come on stream, Iran's Tasnim news agency reported on October 17.
"The project is currently 50 percent complete," he explained.
Iran's Shana news agency reported on May 28 that the country plans to invest $11 billion in construction of ten natural gas liquid (NGL) production units.
Once the units come on stream, over 2,600 million feet of gas produced in oil fields will be gathered and processed.
The units' final products are scheduled to be fed to Bandar Imam and Mahshahr Special Economic Zone's petrochemical units, as well as new petrochemical units such as Dehloran.