Iran’s president has hailed a ‘return to power’ as he launched new phases of the South Pars offshore gas field in the Persian Gulf.
Hassan Rouhani made the announcement as he opened a further six phases of the development, which will see four new petrochemical projects.
The president said the Islamic republic has great potential for growth and development.
Stating that the sanctions were aimed at crippling the country’s economic power, he said: “Today, we succeeded in returning back to our position and power we had in oil industry because a country that is present in the oil and gas market is powerful.”
He added: “Opening six phases of South Pars and 4 petrochemical projects in the areas is a memorable day for the people of Bushehr.
“Today, it has been proved that the path to Iran’s progress is paved.”
He also said that development and reform in the banking system lay the ground for economic development, adding: “The petrochemical industry is one of the relative advantages of our country’s industry.
“We can be a hub in the region in the field of electricity with the process of investment and production we have after the Joint Comprehensive Plan of Action (JCPOA).”