Tehran: Iran has launched an indigenous oil storage facility with the capacity of one million barrels.
The facility is built in Bahregan oil region in the country’s south-western Bushehr province, Press TV reported.
All experts who worked on the project are Iranian, said Mohammad Reza Khajeh-Jahromi, head of the Bahregan oil region.
The region is a forerunner in Iran’s maritime oil industry and the renovations that have been carried out in the site have suitably equipped it for another 50 years of operations, he said.
The Bahregan offshore oil district first started producing oil in the mid 1950s and currently produces 235 thousand barrels of oil per day.
International experts believe that increasing oil storage capacity will improve Iran’s position in marketing and selling crude oil.
In January this year, Iran started building its first private oil terminal, capable of holding 8 million barrels of oil.
Iran has the world’s third-largest proven oil reserves and the second-largest natural gas reserves.
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