SOCAR intends to provide petrochemical complex Petkim with naphtha

Oil&Gas Materials 17 March 2010 10:58 (UTC +04:00)

Azerbaijan, Baku, March 17 / Trend , E. Ismayilov /

One of the main reasons for building a new refinery plant of SOCAR (State Oil Company of Azerbaijan) in Turkey is provision of petrochemical complex Petkim with naphtha , the head SOCAR representative office in Turkey Seymur Agayev said. Company SOCAR is also co-owner of a petrochemical complex Petkim.

"One of the main issues is the providing Petkim with raw materials, while the main raw material is naphtha price of which in the region high for production. Because of this we need to build refinery," Agayev said.

According to Agayev, preparatory operations to start the engineering are underway. At this stage, in the absence of a license, preliminary operations, which don't require large financial costs, are being conducted. In particular, operations are underway on preparing the necessary documentation to start the engineering, as well as in parallel meetings are conducted with engineering companies.

Works on the preparation of a feasibility study on constructing an oil refinery in Turkey have been completed.

Earlier, the Turkish Government has already approved the report of ecological impact, prepared under the project of building refinery.

Previously SOCAR head Rovnag Abdullayev said that talks with the banks are underway in order to finance the project of building a new refinery.

The construction of the plant is scheduled for 2010.

The new plant will meet the needs of the petrochemical complex Petkim in raw materials. The rest of the oil products will be sold in the local market and in Europe. Power of the new plant will amount to 10-15 million tons a year.