Foreign investment, Director of the Zone Mehdi Youssefi
Tehran - FNA
Iran's Pars Special Economic Energy Zone (PSEEZ) is open to foreign investment, Director of the Zone Mehdi Youssefi said.
“Attraction of domestic and foreign investment in this zone is a priority,” Yousefi underscored.He said the PSEEZ’ plans are concentrated on attracting investment in the downstream sector, adding that investment is also needed for the upstream industries.
The official further added that huge gas reserves in the PSEEZ are among the most important advantages of investment in this zone.
“This zone is located in a geographically attractive position and is close to domestic and global markets. It is possible to transfer products from this zone to Central Asian markets,” he said.
Yousefi said long-term plans in the PSEEZ include construction of gas condensate refineries as well as petrochemical plants.
The PSEEZ was established in 1998 for the utilization of South Pars oil and gas resources and encouraging commercial activities in the field of oil, gas and petrochemical industries.
The South Pars gas field, divided into 28 phases, is located in the Persian Gulf on the common border between Iran and Qatar. The field is estimated to contain 14 trillion cubic meters of gas and 18 billion barrels of condensates.
The field covers an area of 9,700 square kilometers, 3,700 square kilometers of which lie in Iran's territorial waters in the Persian Gulf. The remaining 6,000 square kilometers, i.e. North Dome, are located in Qatar's territorial waters.