Azerbaijan, Baku, Aug. 3 / corr Trend E.Ismayilov /
Turkish petro-chemical complex Petkim, which is co-owned by SOCAR-Turcas, intends to increase production of up to 10-15 million tons by 2023, Petkim said.
Oil products will be produced at an oil refinery plant which is to be put into operation in late 2014, the production capacity of the plant is 10 million tons per year. The key objective of the ORP is to supply Petkim with raw materials. A license has been issued to build the plant.
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, 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.
Turkey's petrochemical market amounted to $6-7 billion in 2009, while the figure is expected to hit $10 billion by late 2015 and $20 billion by 2023.
Petkim targets to increase its stake at Turkish petrochemical from the current 26 percent to 40 percent stake market by 2018.
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.