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20-10-20
Iran constructs new oil channel
(MENAFN) Iran is constructing a 1000 kilometers long oil channel in Hormozgan, its southern province, called Goreh-Jask, with the goal of making a substitute way of transport available for oil exports that are currently moved using the Strait of Hormuz. They have reported that they are more than 60 percent done, and are still making strong progress.
President Hassan Rouhani was the person who initiated the development in late June, and hopes that it will enlarge the oil transport capability in the south of the country to one million tubs per day.
When introducing the scheme, he said that this plan is the country's most tactical development at the time being.
President Rouhani stated that USD300 million has already been put into the construction of this project, but it still needs USD800 million to USD850 million before it's up and running.
Rouhani commented: "We hope that exports from Jask will begin as the government's most strategic project by the end of this [calendar] year (March 20, 2021)."
The head of Iran's Petroleum Engineering and Development Company (PEDEC), expects that National Iranian Oil Company (NIOC) will be able to export its first oil cargo from Goreh-Jask oil channel by the end of the present Iranian calendar year, if the rate of progress of the plan keeps going as it is now.
MENAFN2010202000450000ID1100984823
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