Iran is negotiating with Italian energy firm Eni for investment in Shiraz Pars Refinery project, Abbas Kazemi, Iran’s deputy oil minister, said.

Talks are underway with the Italian firm for cooperation and investment in the gas condensate refinery project, Kazemi who heads the National Iranian Oil Refining and Distribution Company, said, Mehr news agency reported Augest 28.

Shiraz Pars Refinery will be the first national condensate refinery in Iran.

Upon inauguration, it will have a daily capacity to refine 120,000 barrels of condensate and produce a daily amount of 12 million liters of gasoline conforming to Euro-5 standard.

Eni came to Iran in the early 2000s. It was to develop Phase 3 of Darkhovein Oilfield in Khuzestan Province and Phase 19 of South Pars Gas Field, but halted operations due to sanctions.

Eni is active in exploration and production sector as well as downstream projects, including refining and marketing of petroleum products. It is one of the world's major oil and gas contractors in engineering, construction and drilling projects both offshore and onshore.

(Source: Trend)