Baku, Azerbaijan, Feb. 2
By Umid Niayesh - Trend:
Iran has launched its second and biggest floating oil export terminal, Managing Director of Iranian Offshore Oil Company Saeed Hafezi said, Iran's Mehr news agency reported Feb. 2.
The terminal has a capacity to store 2.2 million barrels of oil and is installed near Bahregan region in the southern Bushehr Province.
Iran will be able to boost its oil storage and export capacity and reduce storage costs in the Gulf by inaugurating the terminal, which is the biggest floating terminal in the Middle East according to Iranian media outlets.
Hafezi said that currently about 70,000 barrels of crude per day is transferred to the terminal from Norouz and Soroush oilfields.
Over $300 million is invested for building the huge terminal.
Iran's first floating oil terminal, named Sourena, is currently exporting crude oil produced in Norouz and Soroush fields in the Gulf.
Iran, with 157 billion barrels, holds the world's fourth-largest proven crude oil reserves. The Islamic Republic also holds 33.6 trillion cubic meters of proved gas reserves, sharing 18 percent of total global gas reserves which puts the country in the top of the world's gas holders list.
Edited by CN
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