Iran to feed petrochemical facilities through tender

Business Materials 8 June 2015 15:14 (UTC +04:00)

Tehran, Iran, June 8

By Mehdi Sepahvand - Trend:

Iranian Oil Minister Bijan Zanganeh said for the first time in the country, feeding petrochemical factories is being carried out through tender.

Zanganeh made the remarks in a ceremony to kick off the construction of the Siraf refinery complex, IRNA news agency reported June 8.

According to the oil minister, of 50 companies settling bids for the projects, eight were chosen for cooperation, 5 of which are private and the other three governmental companies.

The factory will consume 480 thousand barrels of gas condensates per day. Along with the Setareh Khalij Fars with a daily intake of 360 thousand barrels and the Borouzieh factory with an intake of 120 barrels per day, Siraf will receive the entire daily gas condensate produced in Iran.

Zanganeh further said that 30 to 35 percent of the factories' shares will be sold to minor investors via stock market.

The Siraf refineries complex including eight new gas condensate refineries will greatly increase the country's capacity for producing and exporting oil products, especially liquefied gas and diesel fuel.

It is predicted that the project will be completed over the course of four years.

Each of the refineries will produce 3,100 barrels of condensates, 3,700 barrels of kerosene and jet fuel, 16,500 barrels of light naphtha, 18,500 barrels of heavy naphtha, and 18,500 barrels of diesel fuel per day.

The Siraf complex is in the coastal city of Assaluyeh near the South Pars offshore gas field.

The project is aimed to curb selling of crude oil, boosting the South Pars gas field production, and job creation.

Edited by CN