Russia To Aid Iran In Major Sanctions-Skirting Energy Megaprojects

Alongside the continued development of its huge West Karoun oil fields, the completion of the supergiant South Pars non-associated gas offshore sector (including the implementation of Phase 11 operations), and the finalisation of the crude oil transfer pipeline from Guriyeh to Jask, Iran’s core focus in the current sanctions environment is to optimise the output and revenues from its already world-scale petrochemicals sector. This has always played a key role in Iran’s ‘resistance economy’ model – the concept of generating value-added returns by leveraging intellectual capital into business development wherever possible. In the last week or so, Iran has launched another three major petchems projects and discussed further co-operation with Russia in the sector.