The managing director of the National Iranian Oil Refining and Distribution Company (NIORDC) announced that the Persian Gulf Star gas condensate refinery in south of the country will fully come on stream by March 2017.
Since the start of implementation of the nuclear deal between Tehran and six world powers known as the Joint Comprehensive Plan of Action (JCPOA) back in January 2016, Iran has increased its oil production to pre-sanctions level, Abbas Kazemi stated.
The country has also raised its gas output from South Pars gas field, he said, adding that Persian Gulf Star gas condensate refinery as one of the new refineries of the country with a capacity to produce 360,000 barrels per day is slated to become operational by March 2017.
Speaking to reporters in a visit to the construction site of the major project in the southern port city of Bandar Abbas back in March, Iranian Oil Minister Bijan Namdar Zanganeh had said the first phase of the refinery is expected to become operational within the next six months.
The refinery is an exemplary project of its kind in the world, he noted.
Around $3 billion in investment has poured into the major project so far and its completion will need an extra $500 million, the minister said at the time.
(Source: Tasnim, under Creative Commons licence)