Iran Inaugurates New Pipeline to Transport Crude Oil
Iran announces the inauguration of a 1,000 km new pipeline to transport crude oil to the Sea of Oman. The cost of the project amounts to two billion dollars and that the pipeline allows the transportation of one million barrels of crude oil per day.
The inaugurated pipeline allows Iranian oil exports to bypass the Strait of Hormuz in the Gulf.
The new pipeline extends from Goreh (south Iran) to Jask (southeast Iran), and Iran can now export oil without having to pass through the Strait of Hormuz, for the first time after 110 years of Iranian oil exportation.
At the behest of the Iranian President, in an inauguration ceremony held via video conference, exporting the first shipment of Iranian oil began today, Thursday, from the Jask port in the Sea of Oman.
The Iranian President said that the cost of the project amounted to two billion dollars and that the pipeline allows the transportation of one million barrels of crude oil per day.
During the ceremony, Iranian Oil Minister Bijan Zangeneh said that the project is an indication of breaking the embargo imposed on Tehran, and it confirms that Iran can totally rely on local capabilities.
He also pointed out that this project is the largest strategic plan implemented in the government of President Rouhani, noting that 250 large and small local companies and more than 10,000 people have participated in this project.
It is worth noting that the project entailed the construction of a 1,000 km pipeline, allowing the transportation of crude oil produced in the fields of Khuzestan, especially the Western Karun fields, to the Sea of Oman, bypassing the Strait of Hormuz, for exportation.
As the Iranian oil exportation from Jask port in the Sea of Oman is commenced, Iran will have the opportunity to diversify its oil export routes.