SOCAR to Announce Tender on Construction of Oil Base in Georgia

Oil&Gas Materials 27 October 2008 22:15 (UTC +04:00)

Azerbaijan, Baku, 27 October /corr. Trend E.Ismaylov / In the beginning of December there will begin the construction of a new oil base for storing bright oil products and liquid gas of SOCAR (State Oil Company of Azerbaijan) in Georgia, a source at SOCAR Georgia said on 27 October."We plan to announce a tender on 15 November on construction of the new oil base," the same source said. Now land and clean-up works are being carried out in the area, where the oil base, will be built. The project of new oil base envisages building bituminous pit by with the capacity of 3,000 tons.

The cost of the project on construction of oil base is evaluated at $15mln, the same source said. The company intends to construct this base by the end of the next year. The oil base will be built in the Kiziki street, next to the Tbilisi International Airport. For the realization of the construction, last year the company acquired five hectares of the land for $3mln. 24 reservoirs will be placed with gross capacity of 20,500 tons in the oil base. For storing the liquefied gas, four reservoirs will be also placed with general capacity of 1200 cu.m (on 300,000 per each). All these products will be realized in the Georgian market.

The co-founders of SOCAR Georgia are SOCAR - 51%, Petro Trans FZCO - 32.7% and Ivan Ckhartishvili - 16.3%.

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