Page 5 - DMEA Week 31 2022

DMEA COMMENTARY DMEA

Province Refinery Status Current Nameplate Capacity (bpd) Nameplate Capacity Addition (bpd) Total (bpd)
East Azarbaijan Tabriz Shahriar 110,000 5,000 115,000
Hormozgan Bahman Geno - Bandar Abbas Under Construction 0 300,000 300,000
Hormozgan Bandar Abbas 344,000 344,000
Hormozgan Morvarid Makran - Jask Under Construction 0 300,000 300,000
Hormozgan Lavan Island 60,000 150,000 210,000
Kermanshah Anahita Under Construction 0 150,000 150,000
Kermanshah Kermanshah 22,000 3,000 25,000
Khuzestan Abadan 360,000 40,000 400,000
Khuzestan Arvand - Khuzestan Super Heavy 120,000 120,000
Markazi Arak - Imam Khomeini Shazand 170,000 80,000 250,000
Qeshm Qeshmi Under Construction 0 68,000 68,000
Shiraz Shiraz (Pars) 82,000 82,000
Tehran Isfahan 200,000 170,000 370,000
Tehran Tehran 245,000 245,000
Total Oil 1,713,000 1,266,000 2,979,000
Bushehr Siraf (8 units - 60,000 bpd each) Under Construction 0 480,000 480,000
Hormozgan Persian Gulf Star (PGSR) 400,000 50,000 450,000
Khuzestan Shahid Ghasem Soleimani Under Construction 0 300,000 300,000
Shiraz Shiraz Pars Farayand Under Construction 0 120,000 120,000
Total Condensate 400,000 950,000 1,350,000
Total 2,113,000 2,216,000 4,329,000
Source: IGM Energy

and the second phase seen raising this to 55,000- Soleimani condensate refinery at the Bandas
60,000 bpd. Abbas downstream hub in the same province.
Owji added: “In the downstream sector, we Bank Meli Iran, Tejarat Bank and Refah
reached an agreement with Gazprom to build Bank signed deals with the downstream focused
gas transmission and export pipelines to coun- National Iranian Oil Refining and Distribu-
tries such as Oman and Pakistan.” tion Co. (NIORDC), Persian Gulf Petrochem-
Meanwhile, he was quoted by the Ministry ical Industries Co. (PGPIC), Ahdaf Investment
of Petroleum’s (MoP) Shana news network as Group and Tadbir Energy Development Group
saying: “We have also signed 28 contracts with covering $11.1bn in investment in the Shahid
a total value of over $1bn for collecting flare Ghasem Soleimani unit, while Bank Mellat, Par-
gas, most of which have been signed with pri- sian Bank and Mofid Economic Group agreed to
vate companies that will use the collected gas as provide $6.7bn for Morvarid Makran.
payment.” The report noted that the Soleimani facility’s
As has been common during the first 12 slate would be comprised of fuels (65%) and pet-
months of President Ebrahim Raisi, Owji cast rochemicals (35%), with both projects scheduled
blame for a lack of progress on sanctions and the to be completed within five years.
previous administration. “At the beginning of Jask has become an area of focus for Iran in
the 13th administration, there were 48 half-com- the last 18 months or so. Following the commis-
pleted projects worth $13bn in the Ministry of sioning of the Goreh-Jask Crude Oil Transfer
Petroleum, which were followed up strongly Project – a 1,000-km pipeline connecting pro-
afterwards,” he said. duction from Khuzestan with the Sea of Oman –
However, he said that the final upstream plans were announced for 10mn barrels of crude
phase of South Pars – Phase 11 – would “become storage. The port also comprises the 350,000 bpd
productive soon once Platform 12C of Phase 12 export/import Jask Oil Terminal (JOT).
of the field is installed at the location of Plat- Downstream MEA (DMEA) understands
form 11B before the end of the current Iranian that 10mn barrels will be added in each phase
calendar year”, with three refining trains to be to reach a total storage capacity of 30mn barrels.
launched at the remaining downstream Phase The Goreh-Jask pipeline’s 300,000 bpd first
14 refining site during the same period. phase was completed in May 2021 and consists
of 1,000-km of 42-inch (1,067-mm) pipe run-
Downstream ning from the Goreh oil terminal in Bushehr
Tehran’s expansion plans also extend into the Province to Jask.
downstream, with Owji noting that “by the end Phase 2 is also underway, which will expand
of this year, several petrochemical projects, such the capacity of the line to carry than 1mn bpd
as Hengam petrochemical plant, worth about of crude from the oilfields in the West Karoun
$2.6bn, will also come on stream.” cluster via the Omidieh pumping station. The
Meanwhile, IRNA reported that a group of wider pipeline project will include five pump-
domestic firms have signed MoUs with major ing stations, two pigging stations and terminals.
Iranian banks to fund the development of The pipeline project is reported to have come in
two 300,000 bpd refineries in the south of the under budget at $1.1bn.
country. While there remains uncertainty about the
Both Raisi and Owji attended a signing cer- likelihood of whether all of its ambitious projects
emony on August 1 during which the banks will react fruition, there is a broad sense of opti-
pledged to provide $17.8bn for the construction mism about Iran’s oil and gas sector development
of the Morvarid Makran refinery (previously and as negotiations in Vienna resume, the coun-
referred to at Hormuz refinery) the port of Jask try is ready to take advantage of any concessions
in Hormozgan Province and the Shahid Ghasem made by its Western counterparts.™

Week 31 04•August•2022 www. NEWSBASE .com P5