BAKU, Azerbaijan, February 22. At present, 34 projects are underway in Iran's Pars Special Economic Energy Zone (PSEEZ), with a total investment amounting to $32 billion, Managing Director of PSEEZ, Sekhavat Asadi, told reporters, Trend reports.
Speaking to local media, Asadi mentioned that five of these projects are related to oil refining plants, with $2.5 billion allocated for this sector.
He also highlighted that a few years ago, around 12 to 13 million cubic meters of gas were being flared daily in the PSEEZ. However, this number has now decreased to eight million cubic meters daily.
"Work is being carried out on a project aimed at reducing flare gas, with an investment of 200 million euros. The volume of flare gas burned daily is expected to fall below five million cubic meters by the end of the upcoming Iranian year (March 20, 2026)," Asadi added.
To note, Iran’s Pars Energy Special Economic Zone spans an area of 54,000 hectares. The zone is divided into two sections: Pars-1 (Assaluyeh) and Pars-2 (Kangan). Pars-1 houses eight gas processing plants and 22 petrochemical plants, while Pars-2 includes five gas processing plants and 12 petrochemical plants.
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