Iran Establishes Condensate Refinery Using Own Resources for 1st Time

Iran for the first time will be building an oil refinery “Pars”, using only its own resources, managing director of the National Iranian Oil Engineering and Construction Company, Farhad Ahmadi said.

Ahmadi noted that the condensate refinery will be built in Shiraz city of Iran, and the project will be financed by the government sector.

Earlier, the project went into development under the private sector financing, however due to financial issues, the construction was stopped. Ahmadi said that the company already got a permit for construction, and once built; the refinery will be getting condensates from the Asaluyeh field, as Trend stated.

The total investment into the construction has been estimated at 1,3bln Euros.