Lukoil and Shell to become investors in petrochemical sector of Iran

During the meeting with Iranian Ambassador to Russia, Mehdi Sanai, Lukoil’s head, Vagit Alekperov stated that Russian oil companies were willing to return to Iran's energy market. From September of 2013,the implementation of the second phase of the development program of the Iranian petrochemical industry, within which $ 75 billion  are planned to be invested into the petrochemical industry, started there. According to the Iranian Oil Minister Bijan Zangene, about 70% of these investments must be received from foreign sources and the rest – on account of the domestic private sector’s investments.

The upgrade of engineering projects relating to development of the projects themselves identified a number of key factors, aimed at cooperation with foreign companies and interchange of accumulated experience with them.

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