Iran Eyes 3mbd Refining Capacity by 2021: Minister

Speaking in a televised interview on Tuesday, the official said that the rise in refining capacity will come while observing policies of the economy of resistance instructed by the Supreme Leader of the Islamic Revolution.

He said the country will also begin recovering oil from the oil layer of the supergiant South Pars gas field, which Iran shares with Qatar in Persian Gulf waters, by March 20, end of the current Iranian calendar year. 

The recovery will be made possible by a floating production storage and offloading (FPSO) which Iran has recently purchased from South Korea and will begin with 35,000 b/d. The volume of production will reach 100,000 b/d.