IDRO and NIOC Sign Agreement for Siri NGL Factory Revitalization
The Industrial Development and Renovation Organization of Iran (IDRO) has signed a significant agreement with the National Iranian Oil Company (NIOC) for the rejuvenation, operation, and transfer of the Siri gas and Natural Gas Liquids (NGL) resources, marking a major advancement in the nation's energy landscape.
As reported by IDRO News, the contract was signed by Saeed Jafari, IDRO's Deputy of Modernization and Industrial Project Implementation, and Freidoon Kord Zanganeh, NIOC's Director of Investment and Business, in the presence of Mohsen Khojasteh Mehr, Deputy Oil Minister and CEO of NIOC.
The agreement, worth over 100 million dollars, was signed at the 28th International Oil, Gas, Refining, and Petrochemical Exhibition and encompasses the rejuvenation, management, and transfer of products of the Siri NGL facility. IDRO is set to be the principal investor, executor, and operator of this ambitious project.
The Siri NGL plant stands as a cornerstone project in the Persian Gulf, tasked with the vital collection of associated petroleum gases. It is dedicated to the processing of these gases and the extraction of valuable gas condensates from the Siri region.
Beyond its substantial economic benefits derived from the utilization of associated gases, the Siri NGL factory also plays a pivotal role in safeguarding the region's environment.
