Baku, Azerbaijan, March 9
By Azad Hasanli - Trend:
The State Oil Company of Azerbaijan (SOCAR) and the KBR company will create an ad hoc group of experts for the management of the reconstruction work of the Baku Oil Refinery named after Heydar Aliyev, SOCAR said in a message.
The creation of an expert group is stipulated in the agreement signed March 7 by director of the refinery Elman Ismayilov and board member of SOCAR-KBR joint venture Jan Brendeland.
At a meeting with Brendeland, SOCAR President Rovnag Abdullayev said that after modernization, output of oil products of 'Euro 5' standard will be implemented at the refinery.
Abdullayev went on to add that gradual reconstruction will be continued until 2019-2020.
SOCAR announced the liquidation of Azneftyag oil refinery and its merger with the Heydar Aliyev Baku Oil Refinery in January 2015.
This decision was taken as part of the work to improve and optimize SOCAR's structure.
After the completion of the reconstruction, the processing capacity of the refinery will increase from 6 million to 7.5 million tons of oil per year.