Azerbaijan, Baku, June 12 / Trend E. Ismayilov /
The design and survey work may begin within establishing a new complex on oil and gas in Azerbaijan, as well as the production of petrochemical products in late 2011, SOCAR's senior official said.
He said that the preliminary draft of the new complex will be presented to the leadership of the republic soon. Afterwards, it will be sent to the relevant ministries and agencies to get views.
"We think that the design work may begin by late 2011," he said. "These are a core project and the choice of licensors. The project involves many processes and the vast majority of them represents the licensing process."
He said that the design and survey work may take about two years.
The investment required within the construction of the new complex will hit $12-13 billion. The funds, to be invested in building the complex, will be repaid for 6-7 years.
A new processing facility will be commissioned in stages and will cover 2018-2020. Primarily, it is planned to commission a gas processing plant with capacity of 10 billion cubic meters, then - chemical industry. Afterwards, a refinery with a capacity of 10 million tons will be commissioned.
The plant plans to process gas from the fields developed by SOCAR alone, gas from the block of fields Azeri-Chirag-Guneshli, and if necessary, gas (SOCAR's share) from the Shah Deniz field.
The complex will produce A-92, A-95, A-98 petrol, jet fuel. Diesel fuel will be also produced because demand for diesel is increasing.
Such global companies as Technip, Foster Wheeler AG, UOP were involved in the preparation of the feasibility of the new complex.
The area of the complex is 1,500 hectares.