SOCAR plans to put new processing complex into operation by 2026
Baku, Azerbaijan, Nov. 20
By Emil Ismayilov - Trend:
The State Oil Company of Azerbaijan (SOCAR) plans to put the new 'Oil and Gas Processing and Petrochemical Complex (OGPC) into operation and to start production there in 2023-2025, SOCAR vice-president for processing, David Mammadov, who attended the meeting of the Caspian European Integration Business Club (CEIBC), said on Nov.20.
It was planned to commission the whole OGPC complex by late 2020.
According to Mammadov, the new complex will allow production of fuel meeting Euro-5 environmental standards that regulates the content of harmful substances in exhaust gases.
"The Euro-5 standard fuel will be produced at the new complex and till this the Euro-3 standard fuel will be produced,"Mammadov said.
Production of fuel higher than Euro-3 standard requires the use of expensive technology and therefore, currently it is uneconomical, SOCAR vice-president added.
Creation of a new complex worth of $17 billion (including interest on bank loans) envisages the construction of a petrochemical enterprise with capacity of 1.7 million tons of finished products, oil refinery with a capacity of 10 million tons per year on primary oil refining, as well as a gas processing plant with a capacity of 10 billion cubic meters a year. The depth of oil processing at the plant will be about 95 percent, and the yield of light oil products will amount to 85 percent.
In perspective, it is planned to increase the capacity of the gas processing plant to 15 billion cubic meters per year. It is supposed to create a thermal power plant with a capacity of 250 megawatts as part of construction of the new complex.
The complex will be located 60 kilometers from Baku.