Iran Firm on Opening Development Projects despite Sanctions

(Monday, August 31, 2020) 09:57

TEHRAN (NIPNA) – Iranian Minister of Petroleum Bijan Zangeneh said inauguration of the oil and gas development projects would continue in Iran despite the US-imposed sanctions.

Addressing a ceremony to launch several oil, gas and petrochemical projects via video conference on Monday, he said: "Despite the sanctions and external pressures, the oil industry has advanced the exploitation of development projects."

He said an investment of 4.7 billion Euros was made in the projects which include the first phase of Bushehr Petrochemical Plant, Iran gas pipelines 6 and 9 as well as a power plant in West Karoun oil fields cluster.

He said €3.1 billion of the investment concerned the pipelines which will allow Iran to enhance its gas export capacity.

The official also said that inauguration of the projects would be in line of realization of the economy of resilience, preventing sale of crude oil and gas and completion of the value chain.

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