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Alignment of Governance, Client, Contractors key in Persian Gulf Star Refinery’s Development: CEO

TEHRAN (NIORDC) - The managing director of National Iranian Oil Products Refining and Distribution Company (NIORDC) underlined the role the governance, client and contractors played in accelerating development of the Bandar Abbas Gas Condensate Refinery-aka Persian Gulf Star Refinery.
Speaking to Shana, Alireza Sadiqabadi said the alignment of the governance, client and contractors in development of phases I and II of the project has been unprecedented.
"The key to success of Persian Gulf Star Refinery Project is the alignment of the governance, client and contractors in this project, and one of the biggest events in the period of NIORDC"s new management is the integration of all the factors in implementation of the project," he said.
Referring to the fact that financing is not the only factor needed for completion of a project, the official said: "Given the arrangements carried out by the company"s management, we were able to finance the project in a short period of time through efficient planning."
Sadiqabadi, who is also deputy petroleum minister for refining and distribution affairs, added that thanks to the pursuits of Iranian Minister of Petroleum Bijan Zangeneh, the Iranian president has signed off on a loan of EUR 260 million for completion of phases 1, 2 and 3 of the refinery.
The official pointed to the administrative bureaucracy for approval of loans, adding, "The bureaucracy was harder for the Persian Gulf Star Refinery project because it had used many loans in the past, and repayment of many of them was overdue."
Speed of Phase II Construction Unprecedented
Sadeqabadi, noting that such volume of work and activity in this the project could only be seen during the war, said: "I am confident to say that the activities that were carried out to launch the second phase of the Persian Gulf Star Refinery are second to none in the country."
Iran has started the procedure for production of euro-5 gasoline and gasoil at phase II of Persian Gulf Star Refinery which will boost its production capacity by 12 million liters per day of gasoline once fully operational.
The refinery is being built for processing 360,000 barrels per day of gas condensate, and by the time the second phase of the facility comes fully on-stream, its euro-5 gasoil production output will reach 8 million liters per day.
The plant"s first phase is currently producing 12 million liters per day of euro-5 petrol, 3.5 ml/d of euro-5 gasoil and 700,000 liters/day of liquefied petroleum gas (LPG).
The refinery comprises 3 phases each fed by 120,000 barrels/day of gas condensate, ultra-light crude oil.
Once the second phase"s productivity stabilizes, 12 ml/d of gasoil and 4 ml/d of gasoil will be added to the plant"s total output.
Phase III guarantor of sustainable gasoline production for Iran
Elsewhere in the interview, Sadiqabadi said that once phase III of the project comes online 12 ml/d of Euro-5 gasoline will be added to its output which will be a major step towards rendering the country needless of gasoline imports and sustainable petrol production.
"We are optimistic that the third phase of the project will come online next calendar year (beginning on March 21)," he said, adding, "Once all phases of the facility come online, Iran will be running the world"s biggest Euro-5 gasoline refinery."

11:24 - 20/03/2018    /    Number : 11055    /    Show Count : 1800