IP- In a recent ceremony, Iran's oil minister, Javad Owji, announced that the extraction of ethane from nine refineries in the South Pars (SP) gas field would generate an impressive profit of $250-$300 million per year.

Iran PressIran News:  The project is set to commence within the next two months and is expected to create significant added value and job opportunities. Over 700 million cubic meters of gas are extracted from the South Pars field. However, this output is projected to increase with the operationalization of SP Phase 11's development project.

Owji highlighted that only 66 percent of ethane produced in SP refineries is being extracted, while the remaining portion is injected into the countrywide pipeline and burnt.

Iran's first ethane extraction project was successfully implemented by the Executive Headquarters of Imam's Directive in Parsian Gas Refinery to address this issue. The affiliated companies involved in this venture have gained valuable experience in this field.

The annual ethane extraction from these nine refineries is estimated to reach 1.1 million tons. The resulting profit will be strategically invested in various projects undertaken by the headquarters or within the value chain of this project. Additionally, it may also be allocated towards public utility projects.

This significant step towards maximizing ethane extraction promises substantial financial gains and contributes to Iran's overall economic growth and development.


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