Iranian private sector to build new oil storage facilities

Iran Materials 2 July 2012 16:11 (UTC +04:00)

Azerbaijan, Baku, Jul.2/ Trend F.Milad/

The responsibility of building new oil storage facilities in Iran has been transferred to the private sector, the managing director of the National Iranian Oil Products Distribution Company stated.

Jalil Salari told the Mehr News Agency that the facilities will be built using BOO and BOT methods.

He also said that the technology for building float storage facilities has been indigenized.

Deputy Oil Minister Alireza Zeighami has said that a package of investment worth $47.5 billion has been prepared to develop different sectors of the oil refining and distribution industry, the Mehr News Agency reported.

He also said that the national oil pipeline network will be expanded to 5100 kilometres from 3700 kilometres by 2015.

Some $2 billion should be invested by 2015 to boost the storage capacity of oil products, the official noted.

Iran is now exporting gasoline and diesel fuel to neighboring countries, Zeighami said earlier this month.