Managing Director of Tamin Petroleum & Petrochemical Investment Company (TAPPICO) Mohammad Hassan Peyvenadi said phases II and III of the Iranian refinery situated in southern port of Bandar Abbas will become operational by the end of the present year as most of the equipment needed for completion of the project has been purchased.
He said the refinery is a national project capable of supplying a range of petroleum products including Euro-4 gasoline.
While pointing to consumption of 360 thousand barrels of gas condensate at Setare Khalije Fars refinery, he noted “the condensate market is a limited market in the world, therefore we have to resort to projects that turn it into value-added products.”
Peyvandi said the condensate consumed on a daily basis at the refinery complex is supplied by nine operating phases of the supergiant South Pars Gas Field.
Peyvandi stressed that “once all phases of the field become productive, Iran will produce one million barrels/day of condensate from the field.”
He enumerated prominent features of Setare Khalije Fars project one being that it produces no heavy low-value products like bitumen as well as that the experiences gained while constructing the complex needs could be exploited for modernizing and improving quality of other refineries.
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