NIOC: Crude Oil Storage Capacity Up by 2mn Barrels

Date: 17 May 2025 - 22:27

News ID: ۱۳۹۶۵۹

TEHRAN – CEO of the National Iranian Oil Company (NIOC) Hamid Bovardon Saturday said that crude oil storage capacity has increased by 2 million barrels following the commissioning of two refurbished tanks at the Kharg oil terminal in the operational zone.

He announced the completion of major repairs and upgrades to Tanks 25 and 26 at the Kharg oil terminal. Each tank has a capacity of 1 million barrels and has been returned to service after full reconstruction.

Tank 26 underwent a comprehensive overhaul, including the replacement of its roof and floor, roof drain systems, earthing systems, and containment basins. Safety systems such as cooling, foam suppression, geomembrane and geotextile layers were installed, along with a full repainting of the tank’s exterior and interior. Tank 25 was also restored after sediment removal, floor plate replacement, roof repairs, cathodic protection system installation, redesign of roof drains, repainting, and the construction of containment basins and safety systems.

Bovard, deputy oil minister, said the additional 2 million barrels of storage capacity will enhance Iran’s export flexibility, facilitate upstream production, and reduce ancillary costs such as tank leasing. He described the project as adding significant value to the oil industry.

He also highlighted the refurbishment of five decommissioned vessels, which will support ship loading and docking operations at the Kharg terminal, and thanked all those involved in the project.

The NIOC CEO noted that the project was completed entirely by domestic contractors and workforce, demonstrating Iran’s high technical and engineering capabilities in oil infrastructure.

Abbas Asadrouz, CEO of the Iranian Oil Terminals Company, said the commissioning of the two crude storage tanks symbolizes the expertise of domestic specialists and marks a key step in developing Iran’s strategic oil infrastructure.

“This project not only boosts the country’s storage capacity but also reflects the capability of local experts and national determination to expand Iran’s oil infrastructure,” Asadrouz said.