Turkmenistan, Ashgabat, Dec. 3 /Trend H. Hasanov/
South Korean Hyundai Engineering Co. Ltd implements project worth $534 million at the refinery in Turkmenbashi, representative of the company said at the 17 th International Oil and Gas Conference, held recently in Ashgabat.
General Director of the branch in Turkmenistan Song Dong Joon noted that it is planned to commission a number of facilities at the plant by May 2015.
The major project involves the installation of a Vacumm Distillation Unit, Light Olefine Alkylation Unit, Light Gasoline Isomerization Unit, Gasoline Mixing Unit and Utility System.
It was the confirmation of previous statements. In May, it was reported that the refinery will sign project for its own funds with a consortium of LG International Corp. and Hyundai Engineering Co. Ltd contract.
It was noted that the project involves the construction of a series of objects.
LG International and Hundai Engineering Co.LTD in Turkmenistan are already involved in the development of hydrocarbon deposits Galkynysh, the biggest in the country natural gas reserves, under the service conditions. This consortium is implementing a project on desulfurization worth $1.2 billion.
Turkmenistan plans to increase capacity of oil refining in 2015 up to 15 million tons per year, in 2020 - up to 20 million tons, in 2025 - up to 22 million tons and in 2030 - up to 30 million tons.
In accordance with the approved plans this will be achieved through the construction of three oil refineries and upgrading existing enterprises including at Turkmenbashi city and the oil refinery located in the east of the country in the city of Saydi.
Turkmenistan annually produces about 10 million tons of oil, much of which is processed in local factories.
Construction of plants for the production of benzene, toluene, xylene and their derivatives will start at the largest enterprise of the country, the oil refinery in Turkmenbashi in the near future.
At present, various types of gasoline, kerosene, diesel fuel, lubricating and all-purpose oil and coke are produced here.