CEO of the National Iranian Oil Refining &
Distribution Company (NIORDC) Alireza Sadighabadi said on Saturday that the project
would become operational within a month.
The project's first phase is now producing 12
million liters per day of Euro-5 petrol which is expected to double once the
second phase of the project comes fully online.
Iran has long sought to wean its energy sector
off petrol imports and the Persian Gulf Star Gas Condensate Refinery is a major
measure taken by the country to realize its long-sought goal to become self-sufficient
in petrol production.
Persian Gulf Star Refinery, also known as Bandar
Abbas Gas Condensate Refinery, is a new gas condensate refinery being developed
near Bandar Abbas, Iran.
It will have a processing capacity of roughly
360,000 barrels of gas condensate a day upon becoming fully operational in 2018.
The facility is owned by Oil, Gas and
Petrochemical Investment Company (49%), Oil Industry Pension Fund (33.1%) and
National Iranian Oil Refining and Distribution Company (NIORDC) (17.9%).
The project is estimated to be completed at a
cost of approximately $3.4bn.
Phase one of the refinery was officially
inaugurated in April 2017, while the first shipment of gasoline was delivered
for distribution in June 2017. The remaining two phases are scheduled to be
commissioned by March 2018.
The refinery will produce high-quality gasoline
in order to make Iran self-sufficient in gasoline production.
It will also enable the nation to export gasoline
and other strategic petroleum items.