Baku, Azerbaijan, Oct.1
By Maksim Tsurkov - Trend:
Topographical studies in connection with the installation of new equipment near its end at Baku Oil Refinery named after Heydar Aliyev, a source on oil and gas market of Azerbaijan told Trend Sept.30.
The source said that geodetic marks have been installed almost on the entire territory of the plant.
"This phase is almost complete," said the source. "This will soon make it possible to start the installation of new equipment. The reconstruction of existing facilities and equipment runs simultaneously."
After the completion of the reconstruction, the processing capacity of the refinery will increase from 6 million to 7.5 million metric tons of oil per year.
The modernization cost is estimated at $1 billion.
SOCAR announced about liquidation of Azneftyag oil refinery on January 1, 2015 and its merger with Baku Oil Refinery named after Heydar Aliyev as part of work on improving and optimization of SOCAR's structure.
In total, over 5.31 million metric tons of petroleum products were produced in Azerbaijan in 2014, compared to 5.09 million metric tons in 2013.
Edited by CN
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