TEHRAN June 21(Shana)--By building Siraf refining complex, Iran will take one step forwards to ending crude sale of petroleum products, managing-director of one of stakeholders of the project said.

Hamid Mobseri, managing-director of Tanavob Co., said the first step towards completing value chain in the petroleum industry would be to put an end to crude sales.

�Selling gas condensates is not in the country�s interests. But the only measure decided for transforming these gas condensates has been the construction of a Siraf-style refining complex,� he said.

Mobseri said the naphtha produced from Siraf is expected to be used for feeding downstream petrochemical plants.

Siraf refining facilities are to be constructed on 300 ha of land in Pars II zone (Kangan) between development phases 13 and 19 of South Pars gas field in southern Iran.

The total capacity of the refineries in this complex amounts to 480,000 b/d of gas condensate. In the first phase, Siraf plant is designed to produce 24,800 b/d of liquefied gas, 128,000 b/d of light naphtha, 147,600 b/d of heavy naphtha, 29,600 b/d of jet fuel and 149,600 b/d of gasoil.

The infrastructure in this project is to be completed in eight months. After that, construction of eight refineries, each with a capacity of 60,000 b/d, will start.

Each of eight companies working for Siraf project is committed to providing $300 million in equity, but they are not obliged to pay a lump sum. As the project makes progress, they would have to pay. This refinery would supply 70% of the feedstock needed for running petrochemical plants.

Namvaran, Gostaresh Energy Pasargad, Sazeh Nargan Falkon, Tapiko, Tanavob, Sata, Petro Farayand and Energy Amin Kasra are the companies involved in the construction of the eight gas condensate refineries.

By SHANA