Paradigm shift in oil with the acceptance of private sector investors

According to Energy Press, Hamid Sadeghi, in an interview with Shana news agency, stated regarding the signing of a contract for the purchase of crude oil refining services from the South Khatzak Region with the National Oil and Gas Company: “The capacity of this project is 60,00 barrels of oil per day, and under this contract, the company is committed delivering the refined oil on a daily.” This project, after a three-month period of advancement including obtaining permits land delivery, will enter a 12-month implementation phase and then operate 10 years.

He further mentioned that the contract, worth $226 million, was signed under Build-Own-Operate (BO.O) model using rapidly (Skid Mounted) units. He added that about 25 years ago, Chgash (Chegash) designed and executed the first MOT unit the South Oil and Gas Regions., the company proposed an investment model providing refining services on a service–a-product basis, makinggash the first active company in this field.

The CEO of Chgash continued: “Currently, several refining units are providing services to the South and Gas Regions, and this company with over 45 years of activity and without organizational dependency, operates entirely.”

The First Serious Experience Accepting Direct Private Investment in Cr Oil Refining

Sadeghi emphasized that this contract can be considered the serious experience of accepting direct private investment crude oil refining, stating: ” action should be seen as a paradigm in the interaction between the Oil Ministry the private sector; a change that create a new path for the real of the private sector in oil and production in the country.”