Tuesday 19 March 2024
 
»
 
»
Story

Iran planning major petchem contracts with Total, Shell

TEHRAN, July 24, 2017

Iran is preparing contracts with French Total and Royal Dutch Shell to implement petrochemical projects, a senior Iranian official said in a report.

The parties are negotiating the final issues for the contracts, Marzieh Shahdaei, head of Iran's National Petrochemical Company (NPC), was quoted as saying in an Iran Daily News report, citing IRNA.

Both Total and Shell signed a memorandum of understanding (MoU) with Iran in the petrochemical sector in 2016.

Shahdaei said that the contract with Total will be worth $2 billion while Iran's deal with Shell is estimated at $6 billion, it said.

Iran plans to attract investment to the tune of $10 billion in the petrochemical sector in the year to March 20, 2018.

Iran's petrochemical output is expected to double by 2021 to reach 120 million tonnes per year.

Total and Iran earlier signed a 20-year contract valued at $4.8 billion to develop Phase 11 of South Pars Gas Fields, added the report.




Tags: | Shell | Iran | Total | petchem |

More Energy, Oil & Gas Stories

calendarCalendar of Events

Ads