The implementation of the project is underway in south Iran.

Speaking on the sidelines of the 24th Iran Oil Show in the Iranian capital of Tehran on Saturday (May 4), Rashid Seyyedian added the project is aimed at transferring one million barrels of light and heavy crude oil from Goureh in proximity to Bushehr Province to Jask in eastern part of Hormouzgan Province, to reduce the risk of exports from the Strait of Hormuz which is a strategic region.

He noted that the project involves laying a 1,000-kilometer pipeline with a diameter of 42 inches.

“In the first and second phases of the project, strategic depots with capacities of 10 million barrels and 20 million barrels, respectively, will be constructed. In addition, offshore and other installations will be set up as part of the project.”

He said about $2 billion have been invested in the project, stressing that in addition to the pipeline, a power transmission network with the length of 200 kilometers is also planned to be set up by three contractors, who will be selected in a month through a tender, to supply electricity to the project.

The main employer of the project is Petroleum Engineering and Development Company (PEDEC), Seyyedian said.

The 24th Iran International Oil, Gas, Refining and Petrochemical Exhibition (Tehran Oil Show 2019) began on Wednesday (May 1) and ends today (Saturday, May 4).