Siraf refining project construction to kick off
Siraf is the first experience of Iran’s petroleum industry in gas condensate refining.
The project is expected to come on-stream in three years. The Siraf refineries would produce gasoil, jet fuel, liquefied petroleum gas (LPG) and naphtha.
Siraf refining project will have a capacity of 480,000 b/d of gas condensate (eight 60,000 b/d refineries).
Zangeneh has said that the construction of Siraf refineries would be a major step in ending sale of raw materials.
“With the construction of Siraf refineries, an important step would have been taken in preventing crude [oil and condensate] sales,” Zangeneh said.
He said Siraf project is the first of kind by Iran’s petroleum industry, adding that this is the first time feeding refineries is put to tender.
Zangeneh said privately-owned companies have been selected to run the project.
“The size of these refineries has been such that besides being economical, the private sector could invest in. To that effect, eight 60,000-b/d gas condensate refineries have been envisaged,” said the minister.
Zangeneh said Siraf Refining Infrastructure Company was established with a capital investment of nearly $3 billion to operate the project.
“After the construction of these refineries, we will no longer have any condensate for exports and an important step would have taken for preventing crude sales,” he said.
Hamid Mobasseri, managing-director of Tanavob Co., said the first step towards completing value chain in the petroleum industry would be to put an end to crude sales.
“Selling gas condensates is not in the country’s interests. But the only measure decided for transforming these gas condensates has been the construction of a Siraf-style refining complex,”he said, according to Shana.
Mobasseri said the naphtha produced from Siraf is expected to be used for feeding downstream petrochemical plants