The new refinery located in the west of Iran is expected to add 125,000 barrels of oil and 60 million cubic feet of gas per day to the country’s existing refining capacity.
Iranian Central Oilfields Company managing director Mehdi Fakour was quoted by Mehr News Agency as saying that the company has invested $8.2m in addition to about $30m in the project.
The new facility will process oil and gas from four Iranian oilfields that are in the final stages of development. ICOFC has reserved $1bn for the development of oil and gas fields.
The plant is expected to begin start production by the end of the current Iranian calendar year, 20 March 2013.
