China, Spain to finance Iran's NGL project

An Iranian Offshore Oil Company (IOOC) official said that the Chinese and Spanish companies will finance the natural gas liquids (NGL) project on Kharg Island, southern Iran, MNA reported.

Talking to MNA, the project manager Nader Rahimi added that the project is valued at $1.5 bln.

When the project becomes operational, over 700 mln cubic feet of associated gases valued at more than $800 mln will be collected per day.