23 December 2015 - 14:50
  • News ID: 252308
Major Condensate Refinery Project Pacing Fast Forward

TEHRAN, Dec. 23 (Shana) – Siraf Refinery Project, the biggest refinery project in Iran, is moving fast forward and 8 major investors have so far indicated readiness to join the project, its CEO said.

Alireza Sadeghabadi, managing-director of Siraf Refineries Infrastructure Co., told Shana that the land is being prepared for construction of the 8 refineries each with a capacity of processing 60,000 barrels/day of gas condensate in the southern Siraf region.

"We are trying to prepare at least the land for at least three of the refineries by the end of the current year (March 20 2016)," he said. 

He said deals have so far been signed with renowned companies for the purchase of licenses for utility and refinery facilities for the project. 

"The deals are effective and are about to be put in force," he said. 

Siraf refining facilities are to be constructed on 300 ha of land in Pars II zone (Kangan) between development phases 13 and 19 of South Pars gas field in southern Iran. The total capacity of the refineries in this complex amounts to 480,000 b/d of gas condensate. In the first phase, Siraf plant is designed to produce 24,800 b/d of liquefied gas, 128,000 b/d of light naphtha, 147,600 b/d of heavy naphtha, 29,600 b/d of jet fuel and 149,600 b/d of gasoil.

The infrastructure in this project is to be completed in eight months. After that, construction of eight refineries, each with a capacity of 60,000 b/d, will start.

Each of eight companies working for Siraf project is committed to providing $300 million in equity, but they are not obliged to pay a lump sum. As the project makes progress, they would have to pay. This refinery would supply 70% of the feedstock needed for running petrochemical plants.

Namvaran, Gostaresh Energy Pasargad, Sazeh Nargan Falkon, Tapiko, Tanavob, Sata, Petro Farayand and Energy Amin Kasra are the companies involved in the construction of the eight gas condensate refineries.

News ID 252308

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