As mentioned previously, Qeshm is home to several gas fields, both on and offshore. Along with the development of these fields, the NIOC and its subsidiaries have determined that Qeshm Island should play an important role vis–a-vis the storage and export of petroleum products along with the development of a downstream gas value added sector. As such, the NIOC has outlined several high priority projects to be implemented on the island.

Crude Oil Tank Farms.
The NIOC has commissioned the OIEC to develop tank farms for crude and petroleum product storage on Qeshm Island. Phase 1 of this project has been completed. The project entails the construction of a 20 million barrel of crude tank farm for export along with a 10 million barrel of crude tank farm in support of the Bandar Abbas refinery. The sites of these tank farms are located on the north and south of the island and cover an area of 380 and 800 hectares respectively. Future phases of this project are to be developed by the private sector.

Petroleum Products Tank Farm.
The private sector is also involved in the development of a 250 thousand ton petroleum tank farm for which work on Phase 1, the construction of a 100 thousand ton tank farm, has begun. The goal of this project is to increase the export of petroleum products.

Bunkering.
QFA has been in discussions with foreign firms for the development of a bunkering site, capable of handling up to 5 million tons of fuel per annum. This project is phased and will be completed over a span of five years.

Sirri gas pipeline.
1. The NIOC has completed the underwater portion of this pipeline, spanning 107 kilometers, to transport natural gas from the Sirri A and E gas fields to the island. The 12 inch pipeline is capable of transporting 1.2 to 2 million cubic meters of natural gas per day and to date the NIOC has invested 25 million dollars on this project.

2. Work has commenced on the dry land portion of the Sirri pipeline, carrying gas from Doostkooh to Gavarzin. This pipeline will span 70 kilometers and will have a diameter of 20 inches, so as to carry gas from fields developed on the island.

LNG train.
QFA has signed an MoU for the development of a 4 million cubic meters per day LNG train. A 16 hectare site has been allocated and preliminary work has already begun. The total investment is estimated at 260 million USD.

Development of Salakh gas field.
QFA and NIOC have entered discussion with several foreign firms for the development of Salakh gas field.

Petrochemicals.
QFA has entered into negotiations with both domestic and foreign firms for the development of methanol, propylene and ammonia/urea plants. The most advanced discussions are in regards to a methanol plant to be developed by Qeshm Energy. The total investment of these project is in excess of 1.5 Billion USD.

Condensate refinery.
The NIOC and QFA have been in discussion with two firms for the development of a condensate refinery. Two scenarios are being reviewed, one for a 120 thousand barrel per day and the other for a 360 thousand barrel per day refinery. The total investment for these units is estimated at 600 million and 2 billion USD respectively.

Crude oil refinery.
The NIOC and QFA have entered into discussions for the development of a 120 to 200 thousand barrel per day, expandable to 500 thousand barrels per day, crude oil refinery. The discussions are ongoing; an 850 hectare site has been designated. The total investment required is upward of 6 billion dollars.

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