The first phase of the Pasargad Energy Company’s Qeshm Extra Heavy Crude Oil Refinery project, officially entered into in the presence of Iranian President Ebrahim Raisi, according to the Iranian news agency (IRNA).
The Qeshm Heavy Crude Oil Refinery project can help secure extraction from the South Pars gas field, create jobs, produce high-quality refined products, and raise the bar for export products such as tar.
As per the directives of Iran’s Supreme Leader Ayatollah Seyyed Ali Khamenei on the need to reduce crude oil sales, the first phase of Pasargad Energy’s 35,000-barrel heavy crude oil refinery project in Qeshm enters into operation in the presence of President Raisi on Friday.
The refinery, which is located on Qeshm Island in the southern province of Hormozgan, is now ready to produce highly refined extra heavy crude oil at full capacity.
Pasargadae Energy Development Company has built a power plant with a capacity of 500 megawatts of electricity in addition to three export stations with a capacity of 15 million tons annually. The company has invested in the aforementioned projects more than $500 million in total. Thanks to the infrastructure in the region, the project is able to export more than six billion dollars of products annually.
The operation of the project is expected to provide 400 people with direct employment and more than 1,000 others indirectly.
Gholamhossein Ramzanpur, Deputy Director of Pasargad Energy Development Company, said that the company has invested 220 million euros in the heavy crude oil refinery project in Qeshm, which is expected to produce 35,000 Qatari tars per day.
Said Mohamed, Secretary of the Supreme Council for Industrial Free Trade and Special Economic Zones, said that the refinery will be able to produce 70,000 barrels per day after the completion of the two phases.