Oil minister: Iran’s Bid Boland mega project indicates failure of US sanctions

Speaking at thea inauguration ceremony of the project, Zanganeh said that US former administration thought sanctioning Iran’s oil sector and putting the country under pressure, brings it to its knees but the country became stronger than ever and it was the sanctioning side that was thrown on the ash heap of history, IRNA reported.

Zanganeh added despite the fact that investment decreased, no project was stopped for lack of equipment and technology, hoping that all the flares will be turned off before the Iranian year 1401 (will start on March 20, 2022).

He also said that the revenue of the Persian Gulf Bid Boland Gas Refinery will be $1.5 billion a year. 

The Persian Gulf Bid Boland Gas Refinery, the largest in the Middle East, as well as several other major oil projects were officially inaugurated by President Hassan Rouhani of Iran through an online ceremony also attended by oil minister on Thursday.

Locating in Behbahan, in southwestern Khuzestan Province, the Bid Boland refinery was built to collect Associated Petroleum Gas (APG) in the provinces of Khuzestan, Bushehr, and Kohgiluyeh and Boyer-Ahmad in order to reduce environmental pollution and produce valuable items.

It will also help increase sweet gas production as an alternative fuel to reduce consumption of oil products and create jobs and contribute to other petrochemical plants.

It will have an annual production capacity of 10.4 million tons of methane, 1.5 million tons of ethane, one million tons of propane, 600,000 tons of gas condensate, and 500,000 tons of butane.