TEHRAN- As announced by a local official, NGL project, in Kharg island in the Persian Gulf, which is being built with the aim of reducing the gas emissions in this island to zero has achieved 75 percent physical progress.

Mohammad Reza Dashtizadeh, the governor of Kharg, said that this project is being implemented with an investment of 350 million euros by the private sector.

He added that with the launch of the NGL project, Kharg island will generate 500 million euros in annual income for the country.

Dashtizadeh further said that 100 percent of the employees and engineers in this project are Iranian and 80 percent of the employees are from Bushehr province, in the southwest of Iran, where Kharg island is located.

Kharg Island is a continental island in the Persian Gulf south of Iran. The island is located 25 km (16 mi) off the coast of Iran and 483 km (300 mi) northwest of the Strait of Hormuz. Administered by the adjacent coastal Boushehr Province, Kharg Island provides a seaport for the export of oil and extends Iranian territorial sea claims into the Persian Gulf oil fields.

Due to its close distance to oilfield regions, its good offshore position, and suitable depth for gigantic oil vessel berthing, Kharg Island oil terminal has been recognized as one of the country’s most suitable places for crude oil export and loading sites.

In last December, the head of Iranian Oil Terminals Company (IOTC) said the crude oil storage capacity of Kharg Oil Terminal is going to increase by two million barrels.

“With the completion of the repairs of tanks 25 and 26, two million barrels will be added to the storage capacity of this terminal,” Abbas Gharibi said on the sidelines of a visit to the terminal.

Having modern infrastructures including wharves, loading arms, flow pipelines, storage tanks and measurement systems, this strategic terminal plays a significant role in the country’s oil industry in terms of crude oil storage and export and helping to complete the oil and gas value chain, the official said.

MA