Mehr News Agency, Iran
April 2 2007

Iran’s SP witnessed 40% increase in investment in 2006

TEHRAN, April 2 (MNA) – Investment attracted by Iran’s giant South
Pars (SP) gas field increased by 40% during the last Iranian year
(ended March 20, 2007) when compared to the figure in its preceding
year, oil minister said Sunday.
In his New Year message to oil industrialists, Kazem Vaziri-Hamaneh
added that the 40-percent hike is indicative of heightened activities
at the field.

He said that deals were signed to develop phases 13-16 of the South
Pars, adding the projects to develop phases 6-10 and 12 had
significant growth.

Vaziri-Hamaneh said that his ministry took significant measures in
the refining sector, pointing to deals to upgrade Arak, Isfahan,
Tehran, Tabriz, and Abadan refineries, which is part of a national
move to curb the current unbridled gasoline use.

The inauguration of part of Iran-Armenia gas pipeline and the
completion of projects to construct Parsian 2 and Ilam gas plants,
both in western Iran, are included in the ministry’s achievements
during the same year, he noted.

As far as petrochemical sector is concerned, the minister continued,
two major projects of Marun and Fourth Methanol Unit could be named,
which are expected to boost shares of Iran in global markets.

He hoped that a new petrochemical unit is commissioned each month
during the first half of the new Iranian year.