Preliminary construction cost of SOCAR oil refinery in the Kyrgyz Republic announced

Oil&Gas Materials 30 January 2012 22:38 (UTC +04:00)

Azerbaijan, Baku, Jan.30 /Trend V.Zhavoronkova, E.Ismayilov/

The minimum cost of the refinery, which the State Oil Company of Azerbaijan (SOCAR) is planning to build in Kyrgyzstan, is $ 100 million, the head of the Oil Traders Association of Kyrgyzstan Jumakadyr Akeneev told Trend on Monday. Capacity of SOCAR refinery in Kyrgyzstan will be two million tones.

The agreement on the construction of refineries was reached on January 19 on meeting of the President of Kyrgyzstan Almazbek Atambayev and SOCAR president Rovnag Abdullayev. The commission of the refinery is scheduled for the end of 2013.

Akeneev noted that working group from Azerbaijan should come to the Kyrgyzstan in the framework of the construction at the end of the February. The group together with experts from Kyrgyzstan would consider the choice of the region in which a new venture can be constructed.
Akeneev said, it is assumed that refinery will refine Azerbaijani oil in the future. The construction of the plant is part of the SOCAR policy to increase geographical coverage.

SOCAR includes the Azneft production association, the Azerkimya industrial association and the Azerigaz industrial association.

SOCAR is the only oil product producer in the country and also gas stations in Azerbaijan, Georgia and Ukraine. SOCAR is the co-owner of the Turkish petrochemical complex Petkim. The company carries out oil trading in various regions through SOCAR Trading.