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BIP Eyes NISOC Projects for Investment

BIP Eyes NISOC Projects for Investment
(Monday, January 2, 2023) 11:56

TEHRAN (NIPNA) -- The CEO of Bandar Imam Petrochemical Company (BIP) announced his company's readiness to invest in the optimization and maintenance projects of liquefied gas facilities of the National Iranian South Oil Company (NISOC).

According to the Persian Gulf Petrochemical Industries Company (PGPIC), Sepahdar Ansarinik visited the production facilities of NISOC and was informed about the production process and bottlenecks facing the activities.

After visiting the NGL 700 and NGL 800 units in the southern oil-rich areas, he emphasized the need for more effective cooperation between the two companies, and stated: “In the past two decades, the amount of petrochemical feedstock received by Imam Port from the source of the NISOC has regularly fallen and despite having a capacity of 220,000 barrels per day, only 45,000 barrels have been received, which causes a lot of unprofitability for both Bandar Imam Petrochemical Company and NISOC.”

The CEO of Bandar Imam Petrochemical Company further welcomed the effective technical proposals and called for an increase in the level of cooperation between the two sides, and added: “Out company's policies in the oil-rich areas should be directed in such a way that by presenting good and workable proposals, we can see an increase in Bandar Imam Petrochemical Plant’s feedstock supply and to for this purpose, we are ready to cooperate with NISOC to implement short-term, medium-term and long-term projects.”

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