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Total set to expand petrochem footprint with Iranian projects



French global supermajor Total is set to expand its petrochemical footprint significantly investing billions in the construction of three new petrochem plants in Iran, according to reports from NewsBase Intelligence (NBI).
Total's move follows the company's agreement of the groundbreaking South Pars 11 deal
The development follows the groundbreaking South Pars 11 deal in which Total, in conjunction with the National Iranian Oil Company, agreed to proceed with the development of Phase 11 of the supergiant South Pars non-associated natural gas field (SP11).

Construction of three new petrochem plants in the country makes sense for Total as the South Pars 11 deal means that they will be extracting just over 57 mcm per day of natural gas from the SP11 site when it becomes fully operational.

It is estimated that the three plants will have at least 2.2 million tpy of capacity for the production of polymer and petrochemical products, and will comprise an ethane cracker complex, a special grade polyethylene plant and a polymer production unit.

Iran is seeking to rebalance its upstream activities with a healthier downstream sector and sees foreign investment as the key means of achieving this.
Iran sees foreign investment as a key element in the growth of its petrochemical sector
Marzieh Shahdaei, Managing Director of Iran’s National Petrochemical Co. (NPC) has outlined the strategy as follows:

“The overall aim of these new measures, as exemplified by the Total deal, is not just to effect a major expansion of Iran’s petchems sector but also to do as much as possible to ensure that it is protected against any ramping up of sanctions that might come from the current US administration. In both cases, this means direct deals with Western European IOCs, in addition to those that have been done with Asian counterparts.”

Expect to see Iran focusing on the expansion of its petrochemicals sector in a big way over the coming years. Reports suggest that Iran is in the process of negotiating $72 billion of foreign investment into 80 projects in the sector. Iran’s latest Five-Year-Plan has set a target to increase overall petchem production capacity to 130 million tpy by 2020 and 180 million tpy by 2025.

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I'd be happy to be considered. In petrochemical right now but as a new challenge this is ideal.
Howard Shaw, 04 August 2017
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Total set to expand petrochem footprint with Iranian projects - Time to read 2 min
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