SOCAR announces plans within construction of oil base in Georgia
Azerbaijan, Baku, Oct.26 / Trend E. Ismailov /
The State Oil Company of Azerbaijan (SOCAR) will begin construction of the oil base in Georgia in 2012, a source in SOCAR Energy Georgia (SOCAR's subsidiary in Georgia) said. Earlier it was supposed that construction works will be completed by mid-2011.
According to him, all efforts to start construction works will be fully mobilized in 2011.
Previously, the land allocated for oil base construction, was prepared for construction works, also all necessary permits and documentation were obtained.
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.
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.