News ID: 1303
Published: 0736 GMT September 09, 2014

Foreign countries eager to invest in Siraf refining projects

Korean and Chinese investors have voiced readiness to invest in Siraf Refining Park which contains eight gas condensate refineries, deputy oil minister for planning and supervision over hydrocarbon reserves said on Tuesday.

Mansour Moazami added that the high-tech refineries will produce Euro-4 standard products.

This project aims to reduce exports of crude oil and generate value-added, he noted.

Speaking on various countries' activities for production of oil and gas shale, he said the idea has remained on theoretical level and has not become practical yet.

Access to cheaper oil and gas is available in Iran, thus movement toward exploring shale has no economic justification and has remained on theoretical level.

Iran's serious negotiations with China and Russia in terms of energy will be made public in near future, he added.

Russia is one of Iran's strategic partners, he said, attempts are made to grasp the present opportunities to boost bilateral cooperation.

Touching upon Turkey as another strategic partner, he said Turkey is interested in Iran's oil and Tehran is trying to boost bilateral cooperation.

Contract for gas exports to Iraq and Oman have been signed and their practical arrangements are underway, he added.

Diversification of gas export markets is one of our main policies, Moazami said.

Alluding to NGL 3200 and Kharg NGL, he said the NGL problems will be solved shortly.

He stressed on the significance of joint fields development, concluding that the less we produce, the more the competitors produce.

   
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