Petrochemicals

Total and Iran earlier signed a 20-year contract worth $4.8 billion to develop South Pars gas fields’ 11th phase.

As of today. SOCAR investments in Turkey reached about $19.5 billion. a part of which has been invested in the Star refinery.

The field belongs to the fields’ zone of Kyzylkum depression. which is located not more than 200 meters above the sea level.

Development of petrochemical plants is one of the key issues on the Rouhani administration'.s agenda.

Iran aims to attract more than $70 billion for dozens of new petrochemical plants in line with plans to double its petrochemical production capacity in five years.

Annual report gives little away on IPO. but offers hints about downstream plans.

European firms as well as Asian enterprises have already expressed their willingness to play an active role in developing Iran'.s lucrative petrochemical market.

South Pars is part of the world'.s largest gas field which is shared with neighboring Qatar.

The SOCAR is Azerbaijan’s largest oil and gas company and AzMeCo’s activity is focused on petrochemical projects development.

The South Pars 11 project will have a production capacity of 1.8 billion cubic feet per day. or 370.000 barrels of oil equivalent per day.