The distillation unit of the Persian Gulf Star Gas Condensate Refinery near Bandar Abbas in Iran will become operational within a month, according to a report on the Oil Ministry’s official news website, Shana on Sunday.
The distillation unit of the refinery's phase III will be pre-commissioned by June, Shana said, quoting the CEO of the National Iranian Oil Refining and Distribution Company (NIORDC), Alireza Sadighabadi.
The project is part of Iran’s long-time bid to wean its energy sector off oil imports and become self-sufficient in oil production.
The refinery, which is estimated for completion at a cost of approximately $3.4 billion, will have a processing capacity of roughly 360,000 barrels of gas condensate a day upon becoming fully operational in 2018, Shana said.
The first phase of the refinery, which was officially inaugurated in April 2017, is now producing 12 million liters per day of Euro-5 gasoline, it added.
The major stakeholders of the facility are Oil, Gas and Petrochemical Investment Company, and Oil Industry Pension Fund with respective shares of 49 percent and 33.1 percent. The NIORDC owns the remaining 17.9 percent.
By Hale Turkes