Azerbaijan, Baku, Oct. 24 / Trend, E.Ismayilov /
SOCAR plans to lay the foundation of the first plant in the second half of 2013 within the construction of a new complex for oil, gas processing and petrochemical production in Azerbaijan, SOCAR head Rovnag Abdullayev told media today.
"We will lay the foundation for the first plant within the new complex establishment in the second half of the year," he said. "This will be the processing plant."
The new complex worth $17 billion (taken into account interest on bank loans) envisages the construction of a petrochemical company, an oil refinery with a capacity of ten million tons per year, as well as a gas processing plant with capacity of 10 billion cubic meters per year. Depth of processing at the plant will be about 95 percent, while the yield of light oil products - 85 percent.
In the long term capacity of the gas processing plant is planned to increase to 15 billion cubic meters a year. As part of the new complex it is planned to create heat and energy center with capacity of 250 megawatts.
The complex will be located 60 kilometers from Baku. The entire OGPC complex is scheduled to open by the end of 2020.