News / Energy

Iran launches world's largest floating oil terminal in Persian Gulf

Sunday, 08 February 2015 11:09 AM [ Last Update: Sunday, 08 February 2015 6:57 PM ]

A view of Iran’s Persian Gulf floating oil storage unit

Iran has launched the world’s largest floating oil export terminal in the Persian Gulf waters.

The 2.2-million-barrel floating oil storage unit (FSU), dubbed the Persian Gulf, came on stream in Soroush oil region on Sunday.

The FSU has the capacity to take in some 200,000 barrels per day of heavy crude oil produced in Iran’s offshore oil fields of Soroush and Nowruz.

The floating terminal has a length of 337 meters, a width of 60 meters and a height of 33 meters.

The launch of the FSU will significantly increase Iran’s capacity for crude oil storage and exports.

Iran’s total in-place oil reserves have been estimated at more than 560 billion barrels, with about 140 billion barrels of recoverable oil. Heavy and extra-heavy varieties of crude oil account for roughly 70-100 billion barrels of the total reserves.

YH/HMV

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