Foreign companies show interest in construction of new oil processing complex in Azerbaijan

Oil&Gas Materials 25 May 2010 13:02 (UTC +04:00)

Azerbaijan, Baku, May 25 / Trend E. Ismayilov /

SOCAR's participation in the World Summit in Rotterdam (Netherlands) May 17-19, aroused great interest of foreign companies in the construction of a new refinery in Azerbaijan, head of SOCAR's office in Austria, head of the delegation at the summit Gulmirza Javadov said over phone today.

He said that SOCAR has participated in this summit for the first time. Therefore, the company's participation in this event aimed not only to present their capabilities and services, but also to raise the prestige of the country and company. At the summit, the company acted as a sponsor. The information about the pace of development of the company, the reforms taken in SOCAR was provided. All areas of the company were covered.

During the summit, head of the Austrian Mission met with SOCAR's representatives of both oil companies and companies producing technologies. All the information obtained during the negotiations and meetings will be given to SOCAR's head office for consideration, Javadov said.

SOCAR vice-president on processing David Mammadov said that a new petrochemical complex requires deep processing of Azerbaijani hydrocarbon resources, in particular, natural and associated gas, oil refining to obtain oil products, automotive fuels and lubricants, as well as the development of a new petrochemical-based products and gas processing.

The complex also includes the construction of its own electric power station. According to preliminary data (resulting from the calculation of the population by 2050, the number of vehicles, consumption of fuel and lubricants), the volume of gas processing in the complex will amount to 40 billion cubic meters a year, and processing capacity of crude oil (with the prospect for the next 40 years) approximately 15 million tons.

It is assumed that the entire complex will work at full capacity in 2018-2019. First, the construction of gas processing and petrochemical enterprises will be launched. Thermal power center will be built to meet the internal needs of the complex.

Azerbaijan has two refineries - Baku Oil Refinery named after Heydar Aliyev and refinery Azneftyag. The total capacity of the two refineries is 20 million tons per year.