igPic
Iran to set up first national gas refinery costing $1.6b
1/9/2013 11:16:41 AM
The Khatam-ol Anbiya Construction Headquarters will ink a deal by the next month with the National Iranian Central Oilfields Company to start designing processes.
 
The gas refinery is due to be fed with some 20 million cubic meters of gas produced in Halgan and Sefid Baghoon fields. 
 
Iran’s Oil Minister Rostam Qasemi says Iran has the capacity to produce 4 million barrels of crude and 600 million cubic meters of gas per day, according to press TV.
 
Referring to the fact that Iran possesses 12 percent of the world’s oil reserves and 18 percent of its gas reserves, Qasemi said that, “The capacity to produce oil must reach 5.2 million barrels and gas production capacity must hit one billion cubic meters per day by 2015.”
 
Iran holds the world's third-largest proven oil reserves and the second-largest natural gas reserves.