Data released by the National Iranian Oil Company show that Pars Special Economic Energy Zone in southern Bushehr Province exported close to 1.32 million tons of natural gas condensate, during the month to Feb. 19, indicating a 5% growth year-on-year.
According to Mohammad Mehdi Mahdavi, the caretaker of the customs administration of PSEEZ, the condensate export amounted to over $650 million that marks a 32% hike in value compared with the exports of last year's corresponding period, Shana reported.
PSEEZ, located along the coasts of Persian Gulf and some 570 kilometers west of the port city of Bandar Abbas, is one of the major petrochemical hubs of the country. Gas condensate exports in the one-month period solely accounted for 46% of the zone's total oil- and non-oil production worth $1.4 billion.
Close to 1.367 million tons of non-oil commodities worth $785.78 million were exported from PSEEZ during the 30-day period, indicating a 39% and 49% increase in volume YOY. The zone's products include ethylene glycol, urea, butane, propane, p-Xylene, monoethylene glycol, triethylene glycol, low-density and high-density polyethylene, natural-gas condensate, petroleum heavy ends and cement.
The region is one of the main hubs under South Pars Gas Field in the Persian Gulf. South Pars is the world's largest gas field shared between Iran and Qatar in the Persian Gulf. The giant deposit, which is being developed in 24 phases, provides about two-thirds of Iran's natural gas output.
The field holds an estimated 51 trillion cubic meters of gas and some 50 billion barrels of gas condensate.
Iran's condensate output is slated to reach 1 million barrels a day upon the launch of all phases of South Pars. But Tehran has said it wants to reduce the outbound shipments of condensates and instead use fossil fuel for manufacturing goods with higher value added.
