Iran expects to finalize a deal with the French energy giant Total over the development of a major petrochemical project in the near future, Press TV wrote. The National Petrochemical Company (NPC) announced that a top-level delegation from Total will visit Tehran in late April.
Total and NPC signed a basic agreement over the project in March to jointly build a petrochemical complex in south Iran to include a steam cracker unit in the coastal area with global scale and based on a combination of feed comprising of ethane, naphtha, LPG. The complex will also have relevant downstream units for supplying its products to domestic and international markets.
Additionally, in March, Iran’s Oil Minister Bijan Zanganeh announced that talks are underway with Total over the development of Iran’s South Azadegan oil field which the Islamic Republic shares with Iraq. According to Tehran Times, the deal came after Total agreed to buy 160,000b/d of Iranian crude for delivery in Europe.