Iran to Launch Major Gas Condensate Refinery in 1.5 Years

Iranian Oil Minister Bijan Namdar Zanganeh said the Persian Gulf Star gas condensate refinery in south of the country will fully come on stream by the next 1.5 years.

Speaking to reporters on the sidelines of a visit to the major project in the southern port city of Bandar Abbas, Zanganeh said the first phase of the refinery is expected to become operational within the next six months.

The refinery, whose daily output of gas condensates will stand at 360,000 barrels, is an exemplary project of its kind in the world, he said.

Around $3 billion in investment has poured into the major project so far and its completion will need an extra $500 million, the minister added.

According to Zanganeh, the contractors, particularly Khatam al-Anbia Construction Base, have promised to finish the first phase of the refinery in the next six months.