Azerbaijan, Baku, July 24 / Trend, E.Ismayilov /
SOCAR-Turcas JV plans to complete construction of a new oil refinery in Turkey by 2014, Petkim's oil refinery said. The new oil refinery will be built to provide Petkim with raw materials. The company SOCAR (State Oil Company of Azerbaijan) is also one of the owners of the Petkim petrochemical complex.
"The plant with capacity of 10 million tons per year will be put into operation in late 2014," Petkim said.
A ceremony to grant a license to SOCAR-Turcas JV to build a new refinery in Turkey was held.
Earlier, Foster Wheeler AG announced that a Global Engineering and Construction Group subsidiary received a contract from the SOCAR-TURCAS Rafineri A.S. Alliance to build a grassroots refinery at the Petkim Petrokimya A.S. facilities in Aliaga, Turkey. The contract covers the refinery's front-end engineering design, licensing and a basic design package for a delayed coker, which will use Foster Wheeler SYDECSM delayed coking technology.
The refinery will include crude and vacuum distillation units, naphtha hydrotreating, a 40,000 bpsd delayed coking unit, a 66,000 bpsd hydrocracking unit, kerosene and diesel hydrotreaters, LPG caustic treatment units, a 28,000 bpsd continuous catalytic reformer, a saturated gas unit, amine and sour water stripper, sulfur and tail gas treatment units and a 160,000 Nm3/h hydrogen unit, as well as utilities, auxiliary systems and offsite facilities.
Foster Wheeler plans to fulfill all operations on contracts by late 2010.
The new plant's capacity will be 10 million tons per year. Four million tons will be supplied to meet Petkim's raw material needs. The remaining amount, particularly diesel and jet fuel and other energy resources, will be sold on the Turkish and European markets.
In 2008, the alliance between SOCAR and Turcas Petrol / Injaz Projects has won a tender to sell 51 percent stake of chemical concern Petkim, offering $2.04 billion. Now Turkey imports 70-75 percent of the necessary chemical products. Investments of SOCAR / Turcas / Injaz to the development of Petkim will reduce imports by 30 percent.
Petkim Petrokimya Holding manufactures plastic packaging, fabric, PVC, detergents. It is the only Turkish producer of such products. The company exports a quarter of the production.