The proven nominal production capacity of oil at the Refinery, created at a cost of $1.1 billion in its second phase, is as many as 360,000 bpd, Farhad Ahmadi added.
He pointed to building and launching the largest distillation units of the Middle East at Abadan Oil Refinery and added that the contract for the construction operation of this project was inked in 2008 but it was affected severely by the international sanctions imposed against Iran.
The construction operation of this giant oil project started in September 2017 with a total investment of €1.6 billion but financing this project was not realized due to international sanctions and, inevitably, it was divided into two phases, the first phase of which would be inaugurated in the coming days in the presence of Iranian President Ebrahim Raisi.
Noting that the project has been in the form of Engineering, Procurement and Construction (EPC) + Finance, he added, “We inevitably decided to use a foreign partner due to the financial condition and consequently, a consortium undertook the construction of this project using the participation of competent Iranian and foreign companies.”