Agreement with Total, completion of value chain

EghtesadOnline: The presence of Total in Iran's petrochemical sector is led and encouraged by Ministry of Oil, says the Executive Director of National Petrochemical Company referring to petrochemical industry boom after the historic nuclear deal.

News ID: ۷۴۲۶۴۴

10 July 2017

“We had already signed the MOU with Total and now we have reached good levels,” said Marzieh Shahdaei, the Executive Director of National Petrochemical Company.

“Total has neither invested nor worked in any of petrochemical units in Iran, but following the encouragements by the Ministry of Oil and along with completion of value chain and implementing the economy of resistance policies they agreed upon their investments in Iran’s petrochemicals,” Shahdaei pointed out.

Referring to holding a petrochemical conference in Vienna, She said, 'National Petrochemical Company, as the policy maker for petrochemical industry, has also a task of facilitating petrochemical industry and we have plans to attract investors.”

“After implementing the Joint Comprehensive Plan of Action, the conditions for us got better and easier,” she said referring to petrochemical industry as an industry whihc is dependant on Iran’s international relations with foreign countries.

Shahdaei also announced that some delegations from the European countries are going to visit Iran and negotiate for investment in Iran.

National Iranian Oil Company (NIOC) and an international consortium, led by French Total company, signed Iran's new oil contract in the post-sanctions era for development of the phase 11 of South Pars.