The Iranian Oil Ministry and National Iranian Oil Company (NIOC) have begun to export Iranian oil from the Jask Terminal on the Gulf of Oman, Iran, for the first time.
The terminal was officially inaugurated by Iranian President Hassan Rouhani via videoconference on 22 July 2021, and the first shipment was loaded. The daily export capacity is currently 300,000 bbl, but as operations ramp up, the terminal will have a daily export capacity of 1 million bbl. The crude comes to the terminal from Goreh in Bushehr via a pipeline, which NIOC began operating in May 2021.
The project has cost around US$2 billion (€1.7 billion). The pipeline and the terminal allow Iran to export its oil while bypassing the notorious Strait of Hormuz. More than 90% of the construction and development work was carried out by Iranian contractors and manufacturers, and the project has created 5,000 direct and 15,000 indirect jobs.
Plans for the terminal were announced in 2012, and construction of the crude oil tanks began in 2018. Bloomberg had previously reported that exports would begin on 19 July 2021. Plans for a second terminal at Jask were announced in 2014, and Rouhani has vowed to make this second terminal operational before his administration ends on 3 August 2021.