Access to abundant oil and gas reserves is a unique advantage for the development of Iran’s petrochemical industry and Russian companies are welcome to use this opportunity and participate in Iran’s petrochemical projects.
Morteza Shah-Mirzaei, managing director of the National Petrochemical Company, made the above statement on the sidelines of the 21st International Exhibition for Equipment and Technologies for Oil and Gas Industries (NEFTEGAZ 2022) in Moscow.
“One billion cubic meters of gas are extracted from gas fields in Iran on a daily basis and the country’s crude oil production capacity is about 4 million barrels per day, some of which are used as feedstock in the petrochemical industry. I invite companies present at the exhibit to invest in the petrochemical projects as well as in oil and gas development programs,” Shah-Mirzaei was also quoted as saying by the Oil Ministry’s news agency Shana.
Referring to the huge oil and gas reserves in the country, he said, “Iran has more than 159 billion barrels of oil reserves and about 33 trillion cubic meters of gas in place.”
There are about 5,600 kilometers of coastline in the north and south of Iran and the existence of numerous ports has facilitated the export and import of various products in the oil, gas and petrochemical sectors as well as other industries, the official added.
Shah-Mirzaei also invited foreign companies to attend the next editions of two Iranian exhibitions, namely Iran Plast and the Oil Exhibition.
Also speaking at the event, the Iranian ambassador to Russia talked to the good and beneficial relations between the two countries and said, “With their rich oil and gas reserves, Iran and Russia have a good opportunity to develop cooperation in these sectors.”
Presence of a number of well-known Iranian petrochemical holdings and knowledge-based companies in the exhibition expresses Iran's willingness to develop cooperation in this field with other countries, especially Russia.
Russia’s main oil and gas show since 1978, NEFTEGAZ 2022, opened at the Epicenter Fairgrounds in Moscow on April 18 and wraps up on April 21.
It is Russia's largest trade show for the oil and gas industry. It ranks among the top 10 of the world's petroleum shows. Over the years, the trade show has proven itself as a large-scale international event demonstrating state-of-the-art equipment and innovative technologies for the oil and gas sector.
The exhibition brings together the whole industry to show all new products and trends. It is a meeting point for manufacturers and consumers to network, find the latest information and attend the most important associated events.
Collaboration in Energy Sector
In recent years, Russia has been collaborating in the development of projects in the energy sector of Iran.
Russian Power Machine Company has been contracted by Moscow to use Russian funds to build the 1,400-megawatt Sirik Thermal Power Plant in Sirik County, Hormozgan Province. The project is considered a key step toward stabilizing electricity network in the underprivileged regions of southern and southeastern Iran.
Power Machines Company has also signed a memorandum of understanding with Iran’s Thermal Power Plants Holding Company, based on which the Russian firm will finance the project to modernize and develop the 1,850-MW Ramin Power Plant in Ahvaz, Khuzestan Province.
Russian officials have voiced interest in expanding economic ties with Iran. The two sides have held wide-ranging talks on ways to promote collaboration in the fields of energy, railroad and aviation.
Russia has also built the first unit of Iran’s sole nuclear power plant in Bushehr Province. The second and third Bushehr reactors are scheduled for launch in 2024 and 2026 respectively.
Recently, Russia's Lukoil announced it would be happy to return to talks on its Iranian oil projects, which were at an advanced stage, once US sanctions on Iran are lifted.
Lukoil was in talks with Iran to develop the Ab Teymour and Mansouri oilfields, but had to put plans on hold in late 2018 after the US pulled out of the Iranian nuclear deal and reimposed sanctions on the country's oil industry.
Mansouri Oilfield in Khuzestan Province has an estimated 3.1 billion barrels of oil in place.
