The National Petrochemical Company of Iran announced that on Saturday, June 11, the "first contract" for joint cooperation in the petrochemical industry after the lifting of sanctions was signed between Iran and a Swiss company for participation in the construction, installation, and commissioning of the final unit of the Sadra Petrochemical Complex in Assaluyeh. According to the state news agency IRNA, Ahmad Jazayeri, CEO of Sadra Petrochemical Company, stated that Welding Engineers from Switzerland is set to design, install, and commission the final unit of this petrochemical plant, which includes drying, packaging, and preparing the product for domestic and foreign markets. Mr. Jazayeri noted that the construction of this final unit requires "complex technology." The main product of Sadra Petrochemical Company is ESBR, which is used in the production of automotive tires. Previously, reports had emerged about Western oil and gas companies' efforts to finalize contracts with Iran following the Vienna nuclear agreement. For instance, the British newspaper Financial Times reported on Tuesday, June 1, that the Norwegian oil and gas company Helma is on the verge of signing a $600 million contract with a group of Iranian petrochemical institutions, an event described as one of the largest gas deals for Iran since the lifting of sanctions. Meanwhile, the international affairs manager of the National Oil Company announced on Saturday that Iran has signed oil sale contracts with Saras and Iplom from Italy, Repsol from Spain, and Hellenic from Greece, and negotiations for oil sales with other major oil companies are ongoing. Mohsen Qamsari also mentioned that Shell recently received a spot oil shipment from Iran, and negotiations with this company and other major firms continue. According to reports, Iran's crude oil exports before sanctions were 2.2 million barrels, which fell to about one million barrels per day during sanctions. Officials from the Ministry of Oil stated that Iran's oil exports reached over two million barrels per day in May.
Swiss Company Collaborates with Iran to Complete a Petrochemical Project
Iran has signed its first petrochemical cooperation contract with a Swiss company since sanctions were lifted, focusing on the construction of a new facility. This development reflects growing interest from Western companies in Iranian energy projects post-nuclear agreement. The contract is significant as it marks a potential shift in Iran's economic landscape and international relations.
👥 Key Players
⚡ Actions
📰 What Happened
Iran signed a petrochemical cooperation contract with a Swiss company for the Sadra Petrochemical Complex.
- National Petrochemical Company of Iran announce Swiss company, Sadra Petrochemical Complex
- Welding Engineers from Switzerland designate Sadra Petrochemical Complex
- Iran's National Oil Company negotiate Saras, Iplom, Repsol, Hellenic, Shell
💡 Why It Matters
📚 Background
The contract marks a significant development in Iran's petrochemical sector post-sanctions.
📝 Key Evidence
🏷️ Entities Mentioned
Translated from the original and edited for English readers. View original source →
Translation confidence: 85%