The Islamic Republic of Iran has launched the second phase of the world’s largest gas condensate refinery in its southern city of Bandar Abbas.
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Once fully operational, it will have a processing capacity of roughly 360,000 barrels of gas condensate a day.
The facility is owned by Oil, Gas and Petrochemical Investment Company (49%), Oil Industry Pension Fund (33.1%) and National Iranian Oil Refining and Distribution Company (NIORDC) (17.9%). The project is estimated to be completed at a cost of approximately $3.4bn.
The first shipment of gasoline produced at Phase I was delivered for distribution in June 2017. The remaining two phases are scheduled to be commissioned soon.
The refinery is being developed for production of high-quality gasoline in order to make Iran self-sufficient in gasoline production.
It will also enable the nation to export gasoline and other high-value products to foreign countries.