Iran’s Kharg Island oil storage facilities 97 percent complete

Oil&Gas Materials 3 May 2014 16:32 (UTC +04:00)

Tehran, Iran, May 3

By Milad Fashtami - Trend:

The oil storage facilities of Iran's Kharg Island, located in the Persian Gulf, are now 97 percent complete.

At present, four oil storage facilities are under construction on the island, Iran's IRIB News Agency reported.

Once the facilities come on stream, the island's storage capacity will reach 28 million barrels.

The facilities will come on stream at the cost of 420 billion rials (about $34.25 million).

The construction plan of the facilities started in 2008.

Iran also plans to establish its second oil export terminal in Jask island, located in the Sea of Oman, ISNA quoted Akbar Torkan, the secretary of Iran's Free Trade Zones Coordination Council, as saying on March 26.

"A pipeline with the length of 2200km transfers Iranian crude oil to the Sea of Oman shores. So, it is planned to establish oil storage and export facilities in the Jask Island," Torkan explained.