World’s Largest Floating Oil Terminal to Be Launched in Iran
The Islamic Republic of Iran will inaugurate the largest floating oil terminal of the world next week.
The 2.2-million-barrel floating oil storage unit (FSU) will become operational concurrent with celebrations marking the 36th anniversary of the victory of Iran’s Islamic Revolution.
The giant FSU, dubbed ‘The Persian Gulf’, is 337 meters long, 60 meters wide and 33 meters high. It weighs over 51400 tons.
It cost $300 million to build the world’s largest oil tanker.
Two 16-inch pipelines, each 7 kilometers long, will carry the crude oil produced in the offshore Soroush and Nowruz oil field to the floating terminal.
The launch of the large FSU will significantly increase Iran’s crude storage.
Iran holds the world’s third-largest proven oil reserves and the second-largest natural gas reserves
The country’s total in-place oil reserves have been estimated at more than 560 billion barrels, with about 140 billion barrels of recoverable oil. Heavy and extra heavy varieties of crude oil account for roughly 70-100 billion barrels of the total reserves.