Samsung wants more Iran oil projects

South Korea’s tech giant Samsung – that has just finished a major oil project in Iran – says it is determined to continue working in the Iranian oil industry.

Sun Lee, a top Samsung official in Iran, has told reporters that his company hopes to win new projects in that sector.

He also said the company will continue offering maintenance and spare parts supply services for a mega floating oil export terminal for Iran that it finished on 8 February.

Sun emphasized that the construction of the terminal – dubbed Persian Gulf – was made possible through overcoming severe financial problems, the Persian-language newspaper Forsat-e Emrooz reported.

He said the high quality of the terminal is proportionate to Iran’s crude export conditions, adding that this terminal will play an important role in Iran’s oil industry.

The Persian Gulf terminal – that has been described as the world’s largest – has a total capacity of 2.2 million barrels and can store some 200,000 barrels per day of heavy crude oil produced in Iran’s offshore oil fields of Soroush and Nowruz.

South Korea’s Samsung started building the terminal in 2008 and finished it on 8 February 2015 at a cost of about $300 million.