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23rd International Oil Show Inaugurated

Source: www.gulfoilandgas.com 5/7/2018, Location: Asia

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The 23rd gas, oil, refining and petrochemical international show was inaugurated at Tehran international fairground this morning.

According to public relations department of pars oil and gas company, the inaugural ceremony was held with the presence of Iranian oil ministerin which he stated that this year is a brilliant year for south pars development plans so that offshore facilities of 6 remaining phases including phases 13, 14, 22-24 (each equivalent of 2 standard phases) will be completed by the end of Iranian calendar year (by March 20,2019).

Regarding south pars refinery facilities, BijanZanganeh said onshore facilities of 4 phases will also be exploited by the end of this year (by March 20). So we will have an appropriate production as our neighbor, the state of Qatar, does.

Zanganeh said that $200 billion is required to be invested in oil industry development whose significant part should be provided by foreign investments.

Given that oil industry help boost the state economy, he stated if demand is made for domestic artisans, oil industry can be driving force in not only oil revenue and its injection into the budget but also job creating and economic momentum.

According to this report, this fair is held with the participation of more than 38 countries from around the world in which investment opportunities are put in front of foreign and domestic investors.

The 23rd international oil show which is considered to be the first and largest one in the Middle East will end on Wednesday.

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