Baku, Azerbaijan, Mar. 3
By Emil Ilgar – Trend:
Iran and Japan are negotiating over the Abadan refinery upgrade project, worth 2 billion euros, Esfandiar Daem-ol-Zekr, CEO of Abadan refinery, said.
According to him, the refinery will be upgraded in four phases.
“Iran has already signed an agreement with China’s Sinopec to develop two phases, and now it is negotiating with Japanese JGC,” he said, Mehr reported Mar. 3.
Daem-ol-Zekr added that the two phases are aimed at decreasing the share of fuel oil in the total output of refinery from the current 40 percent to below 20 percent, as well as developing gas oil and kerosene units.
According to him, the first two phases will cost $2 billion, while the third and fourth phases will cost $1 billion each, decreasing the share of fuel oil in total output to about 10 percent.
Currently, the Abadan refinery processes 380,000-400,000 barrels of oil per day, sharing about 14 percent of the total actual output of oil products.