A major oil pipeline that has come on stream along Iran’s southern coastline allows to export 300,000 barrels of oil every day by loading tankers in the port of Jask on the Oman Sea coast without them having to cruise the Strait of Hormuz
Teheran, July 21 -Neftegaz.RU. The new terminal, whose construction took 6 years, walks around the chock point of Strait of Hormuz.
The Deputy of National Iranian Oil Company’s (NIOC
) CEO for Development and Engineering Affairs said:
- The project was estimated to cost about $2 billion but it will become operational at a much lower cost
Reza Dehghan said that the operation to send crude oil from Goreh began in mid-May, adding:
- This shipment of crude oil is now located a few kilometers from Jask Terminal and will soon complete the route of about 1 000 km
The export capacity of Jask Export Terminal at this stage is 300 000 barrels of crude oil
The deputy NIOC CEO further underlined the more than 90% share of domestic construction in implementation of this national project, adding:
- Maximum benefit from the potential of Iranian companies in various parts of the project has been made, including pipeline construction, construction of pumps, coastal sector, etc., at the height of the pressures caused by the oil industry sanctions and the Covid-19 pandemic
has developed the pipeline to diversity its export terminals.
The country currently exports most of its crude oil from Khark Terminal.
The $2-billion project enables the country
to deliver oil for exports outside the Strait of Hormuz, a narrow waterway through which nearly a 3rd
of the global seaborne oil trade is accommodated.