The CEO of the National Iranian Oil Company says Iran has the potential to double the crude oil exports from Khark island in the southern part of the country.
In recent months, Iran’s oil exports have grown with the successive increases being recorded, which have been unprecedented in the last three years.
The increase is despite the harsh sanctions imposed on Iran by the White House.
Emphasizing the importance of repairing and renovating oil terminal facilities, Deputy Minister of Oil and the CEO of the National Iranian Oil Company, Mohsen Khojasteh-Mehr said: “If market conditions allow, the export capacity of crude oil from Khark can be doubled.”
Khojasteh-Mehr visited Khark island on Thursday and noted: “Khark has been a symbol of the resistive economy in the country since the beginning of the Islamic Revolution, and the island has been attacked by the enemies for the number of days of holy defense, but with diligent efforts and the will of the people and staff, even one day of oil exports has not been halted.”
The official added: “With transformation and dynamism in Khark island and the Oil Terminals Company, no matter how much, we will have the same transformation and dynamism in the country’s economy.
“If we want to transform the country’s economy, we must take necessary steps in Khark both in industry and social responsibilities and welfare of the people and inhabitants of this island,” he added.
The Deputy Minister of Oil has stated that the purpose of the visit is to closely review the latest status of projects related to the Oil Terminals Company, the Offshore Oil Company and the Khark Island Oil Terminal, adding: “Major repairs mainly include repairs of docks, oil and gas condensate storage tanks located and safety and fire extinguishing systems in Khark, which should be considered.”
Khojasteh-Mehr also said: “Oil Terminals Company, which is our most important company in the field of oil exports, must be equipped with the most modern storage, measurement and infrastructure systems.”
He stressed that if market conditions allow, the export capacity of crude oil from Khark can be doubled and said: “Our plan is to prepare the oil terminals company in proportion to increasing oil and gas production and storage of gas condensate, to increase export capacity.”
Iran’s crude oil production capacity to reach 5.7 million barrels in next 8 years
Khojasteh-Mehr stressed that the country’s crude oil production capacity is expected to reach 5.7 million barrels in the next eight years, which means readiness to increase exports.
“We must prepare these terminals so that we can, if necessary, increase exports,” the official concluded.