Italy to invest in development of North Pas gas field

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On December 9, 2015, Posted by , In News, With No Comments

A group of Italian companies’ directors on Tuesday voiced interest in making investment in Pars Special Economic and Energy Zone, especially in North Pars gas field.

The directors announced the readiness in a meeting with Managing Director of Pars Special Economic and Energy Zone Organization Mehdi Youssefi on Tuesday.
Briefing the directors on some investment opportunities existing in the region, Youssefi said based on latest estimates, Iran is known as gas rich country.
Youssefi said also, South Pars giant gas reserves whose reserves constitute 6.8 percent of the world’s toral proven gas reserves.
He then enumerated advantages of investment in the region inlcuding vicinity to Persian Gulf as international waterway and ease of goods imports and exports, Pars huge port complex, appropriate lands and access to main feed for petrochemical facilit. ‘We can dare say that no part in the world enjoys such advantages all together.’
Youssefi said the Joint Comprehensive Plan of Action (JCPOA) has provided a bright prospect for presence of the world’s well-reputed companies in Pars Special Economic and Energy Zone. He said presence of well-credited foreign companies will prepare the ground for expediting development of infrastructures in North Pars.
He noted that in a meeting with directors and officials of Italian companies, the opportunity was provided to introduce capacities of the region for Iran-Italy cooperation in Pars Special Economic and Energy Zone after anti-Iran sanctions are lifted.
Last week, the envoys of 178 companies, 20 associations and 12 banking groups, comprising 370 people, visited Tehran to launch the biggest economic mission of Italy.
The aim of Italianeconomic delegation’s visit to Iran was to identify and study the real prospect of trade and industrial cooperation between Iran and Italy during the post sanctions era.
North Pars gas reserves are located in Bardkhun section of Dir city south of Bushehr and facilities for its development project are located in Dir, Dashti and Tangestan.
South Pars gas development projects are now commissioned in Assalouyeh, 280 kms south of Bushehr.
Presently, 72 percent of Iran’s consumed gas, i.e. 300 million cubic meters of gas, are obtained from South Pars gas reserves and based on predictions, this year 100 million cubic meters will be added to South Pars production capacity as the projects for development of South Pars phases will be complete in the next two years.
Remarkable progress is expected to be observed in production and export of petrochemical products and gas liquids of South Pars once its new phases come on stream.

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