National Iranian Oil Refinery and Distribution Company (NIORDC) and the Iranian Oil Ministry plan to launch a major refinery project, Persian Gulf Start Refinery, by mid-March, 2017.
The first phase of the gas condensate refinery will however, go on stream before then. Once operational, the phase will do away with the need to import gasoline, Shana reported.
The project is primarily being implemented by the private sector and the state-run NIORDC has less than 20 percent share in the project.
The refinery is owned by Oil, Gas and Petrochemical Investment Company (49 percent), Oil Industry Pension Fund (33.1 percent) and NIORDC (17.9 percent). It is being operated on an EPC basis.
Once fully operational, the refinery would produce 36 ml/d of high-octane gasoline and 14 ml/d of diesel. Other products include 4 ml/d of liquefied petroleum gas (LPG), 3 ml/d of jet fuel and 130 tons a day of sulfur.
After the project's first phase becomes fully operational, other phases will come online each at intervals of four months.
The refinery will be fed by 360,000 bpd of gas condensate supplied from South Pars Gas Field. The condensates will be processed into quality products according to the latest European standards.