According to the minister, this capacity surge is a result of
leveraging semi-completed projects and introducing new petrochemical
initiatives.
The minister also highlighted Iran's complete self-sufficiency in the
oil industry and the ministry's plans to boost oil, gas, petroleum products,
and petrochemical production in the Seventh Development Plan.
Key Highlights Include:
- 60%
increase in crude oil production and substantial growth in its exports
- 54
million cubic meters increase in gas production
- 220,000
barrels per day expansion in the country's refining capacity
- Completion
and operation of 132 semi-completed projects worth $28.5 billion
- Launch of
operations for 50 new projects valued at $47.5 billion
- Development
of Phase 11 of South Pars
- Completion
of Phase 14 refinery of South Pars
- Implementation
of over 1000 kilometers of gas pipelines
- Gas
supply to over 6,000 villages
- Preparation
of 5 petrochemical projects for inauguration
- Signing
of contracts for oil and gas field development with domestic companies
- Ministry
of Petroleum's call for gas feedstock supply to petrochemical units
- Introduction
of new oil contract models
- Approval
of $40 billion projects in energy consumption optimization
- Energy
diplomacy expansion and increase in exports of oil, petroleum products,
and petrochemicals
The Minister of Petroleum expressed gratitude to all stakeholders and
companies in the oil industry and invited private sector investors to
participate in this sector's growth.
The showcase opened on Wednesday, May 8, 2024 and will run until May
12 at Tehran’s permanent fairgrounds.