National Iranian Oil Company (NIOC) is predicted to be able to export its first oil cargo from Jask terminal by the end of the current Iranian calendar year, which will end on March 20, 2021. This announcement is released by Touraj Dehqani, the head of PEDEC, Iran’s Petroleum Engineering and Development Company, in consideration of the rapid progress in the Goreh-Jask oil pipeline project.
Dehqani said the development of the project has been ongoing smoothly, undisturbed and at the current state, the project's physical progress has reached more than 50%. With the estimation of the project’s main pumping station going operational soon, the beginning of the oil transfer from Goreh to Jask will be starting at the end of the year. Deqhani added that Jask terminal, as other parts of the project, has been progressing and developed. Officials also note that if by the end of the year the required storages at Jask terminal were not ready, the alternative options on the agenda would be using the single-point-mooring (SPM) to store the oil.
The present goal for Iran’s Petroleum Engineering and Development Company for the ongoing project is to manage to export the first oil cargo from Jask oil terminal by the last month of the current Iranian year, which will start on February 19, 2021.
The Goreh-Jask oil pipeline project was inaugurated by President Hassan Rouhani in late June this year. The pipeline is projected to be able to transfer 1 million barrel/day for export purposes’ light and heavy crude oil to Jask oil terminal, located in the southern part of Hormozgan Province. Iran’s Oil Minister Bijan Namdar Zanganeh in his speech on the inaugural ceremony said that this project was one of the most strategic projects that has been launched in the Rouhani administration. Oil Minister Zanganeh reported that $300 million in total have been invested so far in the project, while another $800-$850 million would be needed further for its full operation. He also hope that exports from Jask will begin by the end of its calendar year, which will be ended on March 20, 2021.
