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1st phase of Qeshm extra-heavy crude oil refinery becomes operational

Jan 15, 2022 (MENAFN via COMTEX) --

(MENAFN - Trend News Agency)

First phase of the Pasargad Energy Development Company's Qeshm extra-heavy crude oil refinery project has officially become operative in the presence of Iran's President Ebrahim Raisi, Trend reports citing IRNA .

The Qeshm ultra-heavy crude oil refinery project can help guarantee extraction from South Pars Gas Field, create job opportunities, produce high-quality refined products and upgrade export products such as tar.

In accordance with directives made by Iranian Supreme Leader Ayatollah Seyyed Ali Khamenei on the need for decreasing crude oil sales, the first phase of the Pasargad Energy Development Company's Qeshm ultra-heavy crude oil refinery project with the capacity of producing 35,000 barrels comes into effect in the presence of President Raisi on Friday.

The refinery, which is located in Qeshm Island in the southern Hormozgan province, is now prepared to produce refined ultra-heavy crude oil with full capacity.

The Pasargad Energy Development Company has set up a power plant with the capacity of generating 500 megawatts of electricity as well as three export wharf posts with the capacity of exporting 15 million tons per annum. The Company invested in the mentioned projects more than 500 million dollars totally. Thanks to the infrastructure in the region, the project is able to export more than six billion dollars of products annually.

It has been predicted that the operation of the project provides 400 people with job opportunities directly and more than 1,000 others indirectly.

Gholam Hossein Ramezanpour, deputy manager of the Pasargad Energy Development Company, has said that the Company has invested 220 million euros in the Qeshm ultra-heavy crude oil refinery project, which is expected to produce 35,000 qualified tars per day.

Saeed Mohammad, Secretary of High Council for Free Trade-Industrial and Special Economic Zones, said that the refinery will be able to produce 70,000 barrels per day after completion of both phases.

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