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Weapons of Mass Destruction (WMD)

Iran to build gas refinery

IRNA - Islamic Republic News Agency

Tehran, June 12, IRNA -- Chancellor of Amir Kabir University Ali-Reza Rahaie, says Iran will build a gas refinery, using domestic workforce, in cooperation with the National Iranian Gas Company, National Iranian Oil Company, Oil Industry Research Center, universities and entrepreneurs.

Rahaie, addressing inaugural ceremony of the Seminar on National Production, Support for Iranian Labor and Capital”, said the refinery will be one of the 40 macro projects tha have been endorsed by related organs.

He said establishment of the refinery is of importance regarding the industry sector’s growing need for energy.

Earlier, Managing director of the National Iranian Offshore Oil Company (NIOOC) Mahmoud Zirakchianzadeh had said the biggest gas refinery in the Persian Gulf will become operational on the southern Iranian island of Qeshm next year.

Zirakchianzadeh said the Qeshm gas refinery would be able to process about 80 million cubic feet of gas per day and will become fully operational next year.

The official added that the design, construction, installation, and commissioning stages of the project have been undertaken by domestic contractors and manufacturers.

Zirakchianzadeh said the construction of the gas refinery on Qeshm Island has started in parallel with the development of Hengam oil field which is close to the island.

Hengam oil field, which is shared with Oman, is currently producing more than 22,000 barrels of oil per day, with the target output of 30,000 bpd.

On April 23, Zirakchianzadeh said that about USD 450 million has been invested in developing the first phase of the field, with a total of about USD 800 million being allocated for the development of both phases of the joint field.

Since the beginning of its development, Hengam oil field has yielded about five million barrels of light crude oil.

Oman teamed up with a British company and started production by tapping 10,000 bpd of crude oil from the field, which is called Bukha in Oman, in March 2009, after building a 25-kilometer pipeline.

Iran began early production from the joint field in September 2010 by producing 10,000 bpd of light crude oil.

Islamic Republic News Agency/IRNA NewsCode: 1020745

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