Azerbaijan, Baku, 15 May / Trend, E.Ismailov /
SOCAR (The State Oil Company of Azerbaijan) plans to begin construction of a new complex for oil, gas and petrochemical production (OGPC) by the end of this year, the head of SOCAR Rovnag Abdullayev told reporters.
According to him, work is currently underway on the final draft of the complex which includes a gas processing plant project, a refinery as well as a project on a plant for the production of petrochemical products.
"We will try to start specific work by the end of this year," Abdullayev said.
Construction of a new complex worth $17 billion (including interest on bank loans) entails the construction of a petrochemical enterprise with a capacity of 1.7 million tons of finished products, an oil refinery with a capacity of 10 million tons per year as well as a gas processing plant with a capacity of 10 billion cubic meters per year. The depth of oil processing at the plant will be at about 95 percent, and the yield of light oil products - 85 percent.
The gas processing plant's capacity will be increased to 15 billion cubic meters a year in the long term. A thermal power plant with a capacity of 250 megawatts will be built as part of the new complex.
The complex will be located in 60 kilometers from Baku. Commissioning of the entire OGPC complex is scheduled for the end of 2020.