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EghtesadOnline: An oil jetty in the Persian Gulf is near completion in Qeshm Island and will be launched in spring, head of economy and investment affairs at Qeshm Free Zone Organization said Monday.

“With completion of the jetty, Qeshm infrastructure will be ready for private investment in the refining and oil industries,” ILNA quoted Keyhan Abbasian as saying.

With a capacity to handle 14.5 million tons of goods, the oil jetty is in the final stages of construction. It is being built by the Pasargad Energy Development Company and is estimated to cost $64 million.

The island has more than 17 oil and gas fields with over 1.2 trillion cubic meters of in-place gas and four billion barrels of in-place oil, Abbasian said.

Given its proximity to the Persian Gulf and the strategic Strait of Hormuz, access to the Oman Sea, Central Asian markets and tax exemptions, the largest island in southern Iran will be developed as a regional energy hub, he added.

Located near the northern coast of Qeshm Island, “Hara Oil Jetty will facilitate import of feedstock and export of oil and petrochemicals.”

 

Qeshm oil economy