SOCAR prepares for next stage in construction of oil storage tanks in Georgia

Oil&Gas Materials 4 March 2010 22:26 (UTC +04:00)

Azerbaijan, Baku, March.04 / Trend E.Ismayilov /      

State Oil Company of Azerbaijan (SOCAR) is preparing to lay the foundation of an oil base in Georgia, a source at SOCAR Energy Georgia (SOCAR's subsidiary in Georgia) reported.

"Preparatory work is carried out to begin laying the foundation at the moment," - the source said.

Earlier terrestrial works were finished.

Oil base will be located in the Kiziki street near the Tbilisi International Airport. The company acquired five acres of land in worth of nearly $3 million to carry out the construction in 2008.

As previously mentioned sources, the construction of the new oil base is expected to be completed by mid-2011.

Designing of oil base in Georgia was carried out Azerbaijan engineering company Encotec (Engineering and Consulting Technologies), which provides engineering design services, project management and supervision of construction and construction-assembly works, installation and commissioning.

24 tanks with total capacity of 20,500 tons will be placed at the oil base. They will keep light mineral oil, such as gasoline, diesel and jet fuel. Four reservoirs, with total capacity of 1,200 cubic meters (300,000 for each), also will be placed here for the storage of liquefied gas. The project of new oil base involves construction of new bituminous pits in capacity of 3,000 tons. All these products will be sold on the Georgian market.

Co-founders of SOCAR Georgia are: SOCAR - 51 percent, Petro-Trans FZCO - 32.7 percent and Ivan Chkhartishvili - 16.3 percent.

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