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  • Rouhani Launches Major Oil Projects

Rouhani Launches Major Oil Projects

Three national projects of the Ministry of petroleum with an investment of Rls.300000 billion and in provinces of Chaharmahal and Bakhtiari, Khuzestan and Bushehr were officially inaugurated by Iranian President Hassan Rouhani.

Iranian President Hassan Rouhani officially inaugurated Lordegan Petrochemical Plant via video conference.

A ceremony was held here in Tehran on Thursday to officially launch the project in the presence of Dr. Rouhani and Minister of Petroleum Bijan Zangeneh.

The commissioning of the complex was fully carried out by Iranian experts and it will generate roughly $240 million annually once fully operational.

The plant has been built with the aim of producing 1.075 million tons of urea and 677,000 tons of ammonia per year, of which about 600,000 tons is used to produce urea in the complex.

The facility is fed by natural gas from the national gas distribution network. It consumes 320 million cubic meters of natural gas as fuel and 429 million cubic meters of natural gas as feedstock annually.

Most of the products of this complex will be for export and its first chemical shipment will be exported next month.

Lordegan Petrochemical Plant was built with an investment of 754 million Euros and 11,230 billion Rials, and it would generate an annual revenue of roughly 240 million dollars. The plant is planned to reach full production tilt by the end of the current Iranian calendar year to March 20, 2021.

Due to the 500 million euro financing of the unit by China, it was necessary for the company to purchase part of the equipment from this country, but despite this, most of the equipment was supplied from domestic manufacturers and over 60% of the equipment used in the plant was provided by Iranian suppliers.

Construction of the unit generated 2,800 direct and 450 indirect jobs in the western province of Chaharmahal and Bakhtiari. When fully operational, it will create 700 direct and 1,500 indirect jobs.

Lordegan Petrochemical Company was built on a 100-hectare land in the Felard County of ​​Lordegan City in the Chaharmahal and Bakhtiari province, and Iranian Investment Petrochemical Group (Petrol) is the main stockholder of the company.

Rouhani Launches Skid-Mounted Refinery in West Karoun

The first skid-mounted oil refining unit is officially put into operation by Iranian President Hassan Rouhani via video conference.

This processing unit (Skid-Mounted), which was officially put into operation on Thursday, November 26, was constructed in the form of a lease and purchase contract for oil refining services ($1,285 per barrel) with the private sector (foreign).

The value of the contract is $47 million, and the construction site is on the south side of South Azadegan oil field in the West Karoun oil fields cluster. It is fed by 35 wells and its processing capacity is 50,000 barrels per day, which can be enhanced to 80,000 barrels.

Another noteworthy point on this unit is the working method in which oil is processed using super heat water vapor in order to change and exchange temperature. Also, construction of this unit created jobs for 400 people at the time of construction and 100 people during operation.

Attracting foreign capital at the climax of sanctions, rapid construction (in less than a year) and helping to increase production capacity in a joint field (South Azadegan), are the most prominent features of the skid-mounted refining unit built in the West Karoun region.

Last February, a contract was signed between the Petroleum Engineering and Development Company (PEDEC) and Academic Center for Education, Culture and Research (ACECR) for construction of the second skid-mounted processing unit in the South Azadegan oil field under Build-Own-Operate contact terms.

The facility will operate with 50,000 barrels per day of capacity and 15 months has been designated for its design and construction. The operation period of this project will be three years which could be extended to five years.

Rouhani Launches Centralized Storage Tanks in South Pars

Iranian President Hassan Rouhani officially ordered commissioning of the centralized storage tanks of South Pars worth €29.2 million and Rls.2,200 billion via video conference.

The project of constructing storage facilities and gas condensate measuring stations, which was put into operation on Thursday, November 26, by the order of President Hassan Rouhani via video conference, is aimed at storing gas condensate from a number of South Pars refineries with a nominal capacity of 640,000 cubic meters, an equivalent of 4 million barrels.

In the project, which was ordered by Pars Oil and Gas Company, eight tanks each with a capacity of 80,000 cubic meters (500,000 barrels) and a total capacity of 640,000 cubic meters with a floating roof and two fire tanks and fuel tanks, piping network and systems, electrical, instrumentation and measuring systems and condensate transfer boosters and the related pumps, as well as industrial and administrative buildings were constructed.

These tanks have the capacity to supply 480,000 barrels of gas condensate per day to the Persian Gulf Star Refinery through the pumping stations of the refinery on the west side of the facility and also send gas condensate to the single point mooring (SPM) No. 1 and 2 through 30-inch inlet-outlet pipelines at up to 600,000 barrels per day.

Construction project of storage facilities and gas condensate measuring stations was carried out under three EPC1, EPC2, EPC3 (engineering, equipment procurement and execution) contracts by the developers and consultants of Nardis Energy Projects, Arak Machinery Company and Pars Consulting Engineers Company, and was funded by the domestic sources from the National Iranian Oil Company (NIOC) and the National Development Fund of Iran (Article 12 of Elimination of Production Barriers Act).

Construction of the project generated 160 direct jobs and its operation needs 50 people on duty.

Iran Petchem Output to hit 100mt/y by 2022

Iranian Minister of Petroleum Bijan Zangeneh said the country’s petrochemical production capacity would reach 100 million tons per year by 2022, 80% more than the 2013 levels.

Addressing a virtual ceremony to launch major oil and energy projects on Thursday, the official said that the country’s petrochemical revenues would reach 25 billion dollars per year by 2022, adding plans were further underway to bring the amount to $37b by 2026 while production capacity will stand at around 133 million tons per year.

"As we had promised earlier, 19 petrochemical projects in the second leap with a value of $11.4 billion with 25 million tons of production capacity will come on stream this year,” he said.

According to Zangeneh, since the beginning of the current calendar year which began on March 21, five petrochemical projects with an investment of $3 billion have been inaugurated by Iranian President Hassan Rouhani. Lordegan Petrochemical Project is the 6th of these projects to come online this year.

Iran Urea Output

The Minister of Petroleum stated that the current production capacity of urea is 6.5 million tons in Iran, and said: “The urea production capacity of the country will increase by another 3 million tons annually by once Lordegan, Masjed Soleyman and Hengam projects fully come on stream. Domestic consumption of urea is 2 million tons currently, and the surplus can be exported.”

West Karoun Oil Fields Cluster

The Iranian Minister of Petroleum Iran's oil production capacity from joint fields in West Karoun oil fields cluster increased from 70,000 barrels in 2013 by almost 6 times to 400,000 barrel per day.

Zangeneh described the use of skid-mounted rapid-construction refineries as one of the works in the region with the aim of accelerating operations and reducing government ownership, and said: "This project was built in Azadegan field in the form of lease with a European company and $50 million of investment."

He said this is the first time in the history of the oil industry after the nationalization of the industry that such a processing unit is built and put into operation by the private sector and the government only pays $1.28 per barrel for the refined oil.

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