Project Profile
Value: US$3.2 billion
Location: 25 km from Bandar Abbas, southern Hormozgan Province, Iran
Area: 7 sq. km
Refining capacity: 360,000 bpd, feed from South Pars gas field
Number of trains: 2
Start-up year: May, 2017 (Phase 1)
The construction of the Persian Gulf Star Refinery (PGSR) is Iran’s most strategically important hydrocarbons project giving the country independence on importing gasoline supplies. Iran is set to begin gasoline exports by the end of 2017.
The project’s investment cost is around US$3.2 billion with financing support coming from Russia and China.
The PGSR has a daily production target of 27 million litres of gasoline, 9 million litres of premium gasoline, 14 million litres of diesel, 4 million litres of LPG, 3 million litres of jet fuel and 130 metric tonnes of sulphur.
The first phase of the refinery would operate at 120,000 bpd, one-third of the total refining capacity of 360,000 bpd of South Pars gas condensate.
The remaining phases of the project will start operations over the course of the following six months after phase one reaches full operations.
Operators:
Oil, Gas and Petrochemical Investment Co.: 49% interest
Oil Industry Pension Fund: 33.1% interest
National Iranian Oil Refining and Distribution Co. (NIORDC): 17.9% interest
Contractors:
Nardis: EPCC contract - scope of work consists of process units, utility units and industrial buildings.