The Iranian Oil Terminals Company is operating at full steam to boost oil exports capacity from Kharg Oil Terminal, the country's largest oil loading and export facility, managing director of Iran Oil Terminals Company said.
"Plans are underway to increase the terminal's capacity by 700,000 barrels per day within two years," Seyyed Pirouz Mousavi was also quoted as saying by Shana, the Iranian National Oil Company's news agency.
Referring to the key role of the southern hub, Mousavi noted that 90% of the country's crude are shipped out via Kharg.
Iran's daily exports now exceed 2 million bpd of crude oil plus 600,000-700,000 barrels of condensates, a type of ultra light crude.
The oil terminal is located on Kharg Island in the Persian Gulf, 25 kilometers off the coast of Iran.
According to the Mousavi, "Close to 800 million barrels of oil were exported from Kharg Oil Terminal in the previous fiscal [ended March 20, 2018]."
"Kharg terminal’s crude oil loading capacity has increased to 8 million barrels per day from eight ports, which is three times over and above the current level of oil and condensate exports," he added.
"Eight very large crude carriers, with a storage capacity of 360,000 tons, can berth at loading docks simultaneously without restrictions or technical hurdles," Mousavi said, adding that two ship-to-ship operations can also be carried out at the same time.
--- Ready to Go
Mousavi noted that the terminal is ready to increase its export capacity.
Large vessels can now berth at southern oil and gas condensate terminals without technical hurdles.
According to the official, the equipment and facilities in the oil/gas terminal conform to international standards and foreign crude carriers can load oil and gas condensates with no impediment, as they have been renovated by domestic experts.
A subsidiary of the National Iranian Oil Company, IOTC specializes in marine services, crude, oil products and liquefied gas export and offloading operations.
Once the world’s largest offshore crude oil terminal and the main marine terminal for Iranian oil, Kharg Island’s facilities were decommissioned during the Iraq-imposed war (1980-88) following heavy bombardments by the enemy forces.
According to the official, the renovation of loading docks played a key role in stabilizing oil exports.
Over 800 tankers and vessels of all sizes berthed at the terminal in the last fiscal, up from 540 in the previous year, or around 33%.
The port is a strategic hub for swaps with the neighboring countries.
Mousavi said Iran receives oil from Caspian Sea littoral states in the north and delivers the same amount to southern neighboring countries via Kharg Oil Terminal.
Tehran is now producing 3.9 million bpd of crude oil and gas condensates. The OPEC member hopes to lift production by more than 15% of current output level by 2022.
The country is preparing storage and exports facilities to meet the potential export rise in the future.
