Iran Launches Major Condensate Project2018-06-30The Islamic Republic of Iran has launched the second phase of the worlds largest gas condensate refinery in its southern city of Bandar Abbas.
The first phase of the project, with 12 million liters per day of gasoline production capacity, came on-line in April 2017.
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.