Iran Lays Giant Condensate Export ‘Refinery’ Bait For Foreign Investors

Iran’s National Iranian Oil Refining and Distribution Company (NIORDC) has announced plans for a massive condensate splitter-based complex to produce fuels and feedstocks for export.

NIORDC planning director Shahabeddin Metaji says the project, which he terms a refinery, will involve the construction of eight 60,000 b/d capacity condensate splitters with associated processing units and utilities at the Siraf Refining Park in Assaluyeh.

“The products of these refineries will include LPG, naphtha, jet fuel and diesel fuel that comply with the EU’s Euro-4 and Euro-5 standards,” he says. Mr Metaji estimates the cost of the 480,000 b/d Siraf Refining Park complex at $2.4bn and says NIORDC is in talks with the private sector as well as foreign companies to finance the project. He adds that work on the project is expected to start in three months, with the first splitter due for completion in four years.


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