EghtesadOnline: The first phase of a gas condensate loading and export facility became operational on Thursday in Dayrestan, a village in Shahab District, Qeshm Island in Hormozgan Province.
The terminal has six storage tanks (built by Machine Sazi Arak Company based in Markazi Province), each with 550,000-barrel capacity, IRNA reported.
A 22-kilometerr pipeline connects Qeshm (Gourzin) Gas Condensate Refinery to the terminal and whenever needed the surplus production in Gourzin refining complex is transferred to the storage facilities.
Stretching over 117 hectares, the project cost $180 million and was completed in two years. The news agency said when the second phase comes on stream (next March), storage capacity will rise by 50% to reach 6.6 million barrels.
Gas condensate is a low-density mixture of hydrocarbon liquids that are present as gaseous components in raw natural gas produced from gas fields.
Qeshm Gas Condensate Refinery, with a processing capacity of 120,000 barrels per day, opened in 2018 in collaboration with the Iranian Offshore Oil Company, a subsidiary of the National Iranian Oil Company.
The refinery's feedstock is provided by offshore platforms in Hengam and South Pars gas fields off the Persian Gulf. In addition to condensates, the refinery produces liquefied petroleum gas, kerosene, diesel, jet fuel and naphtha.
Its condensates are piped to the Persian Gulf Star Refinery in Hormozgan Province and industries in Qeshm Island. Qeshm is estimated to sit atop 4 billion barrels of oil and 283 billion cubic meters of gas.
Hydrocarbons, the strategic Strait of Hormuz, proximity to the Sultanate of Oman, connection to national gas network and access to Central Asian markets are among advantages of the island.
Bijan Namdar Zanganeh, the oil minister, said construction of Jask Export Terminal in the Hormozgan Province is almost half complete. “We hope the project will be completed by the end of the year (March 2021),” Zanganeh said.
Work is in progress to build the Goureh-Jask crude oil pipeline, which stretches over 1,000 kilometers from Goureh in Bushehr Province, to Jask (in Hormozgan Province), where the largest oil export terminal after Kharg is being constructed.
The pipes are being built by three Iranian companies. Of the 1,000 km, pipes needed for 400 kilometers have been manufactured and delivered.
Ahvaz Industrial Pipe Company, Isfahan-based Mobarakeh Steel Company and Khouzestan Oxin Steel Company have manufactured the pipes.
Raw materials for the pipes are supplied by the major Mobarakeh complex and transformed into special steel sheets by Oxin Company in Ahvaz.
The minister said PGSR will be connected to the pipeline to supply 600,000 to 700,000 barrels of gas condensate a day. “Once this part of the project is complete, gas condensate can also be exported from Jask."
Approximately $300 million has been spent on the project, and another $850 million is needed to get the job done, he said. When ready, Jask Oil Terminal will store 30 million barrels of crude oil and export one million.