BAKU, Azerbaijan, April 4
By Elnur Baghishov - Trend
Storage tank No. 19 with a capacity of 500,000 barrels of crude oil has been commissioned at the Kharg oil terminal of Bushehr province in southern Iran, said Executive Director of the Iranian Oil Terminals Company Abbas Asadruz, Trend reports referring to Shana news agency.
According to Asadruz, the storage tank was repaired and re-commissioned by Iranian specialists.
Asadruz added that the main priority of the Iranian Oil Terminals Company is the overhaul of equipment and storage facilities at Iranian oil terminals.
The island of Kharg at Bushehr province is one of the main oil fields in Iran. The Iranian Oil Terminals Company, the Offshore Oil Company and the Kharg petrochemical company are operating on the island.
The US imposed new sanctions on Iran in November 2018. As a result of the sanctions, Iran's crude oil exports have fallen to a minimum. In this regard, it is planned to store crude oil in Iran and gradually export it.
Last Iranian year (from March 21, 2019 to March 20, 2020), several crude oil depots were put into operation in Iran.
Iran has 125 oil fields and 59 gas fields. Iran's total hydrocarbon reserves are estimated at 836 billion barrels.
With available technology equipment, the country can extract 239 billion barrels. Thus, 29 percent of the country hydrocarbon reserves are recoverable, while 71 percent remain underground.