Iran completes construction of oil pipeline to bypass Hormuz Strait for oil exports
Iran completed the construction of a major onshore oil pipeline which will allow the country to bypass the Hormuz Strait, a vital passageway of the region, for its oil exports, Tasnim News Agency reported.
The 2-billion-U.S.-dollar project will allow the crude to travel some 1,000 km from Iran’s pumping facilities in Goureh located on the southwestern shores to the Oman Sea port of Jask on the southeastern shore of the country.
Iranian President Hassan Rouhani is scheduled to formally announce the rollout of the Goureh-Jask pipeline on July 22, according to the Press TV.
The oil pipeline is able to initially export 300,000 barrels per day (bpd) of the crude and will reach the capacity of 1 million bpd once it is fully ready in October, according to the report.