As Sanctions Ease, Iran Eyes Revival of Key Gas Sector

From Daily Star

By Mohammad Davari

Iran is working full throttle to develop its South Pars natural gas field, the world’s largest, amid hopes of sanctions relief and the return of Western oil majors. “We would welcome foreign companies and investors if they want to come back,” said Hamid Reza Massoudi, chief engineer at an unfinished South Pars refinery near the town of Assaluyeh, 920 kilometers south of Tehran.

“They would definitely speed up the progress,” he said, as work proceeded on the refinery’s structure.

Development at the mammoth offshore field has been hobbled for years by sanctions imposed by the United States and the European Union, a lack of foreign and domestic investment and technical challenges.

Iran struggled to fill the vacuum after the departure of France’s Total, Spain’s Repson and the Royal Dutch Shell, and efforts to continue development through state-owned and quasi-private companies had mixed success.

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