Financial Tribune - The engineering and designing phase of 20 crude oil storage facilities near the southeastern port of Jask in Hormozgan Province is almost finalized, managing director of the Petroleum Engineering and Development Co. said Saturday.

"Petro Omid Asia Company and Omid Investment Management Group will start the construction phase in July," Touraj Dehghani was quoted as saying by Shana, the Oil Ministry news portal.

PEDEC, a subsidiary of the National Iranian Oil Company, Petro Omid Asia Company and Omid Investment Management Group signed a build-operate-transfer (BOT) contract basis in October to build the facilities.