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SOCAR to sign several agreements with Austrian company

Oil&Gas Materials 30 September 2015 20:27 (UTC +04:00)

Baku, Azerbaijan, Sept. 30

By Maksim Tsurkov - Trend:

SOCAR (State Oil Company of Azerbaijan) and Austrian Poerner GmbH will sign three agreements on the construction of a bitumen unit at the Heydar Aliyev Baku refinery, SOCAR told Trend Sept. 30.

Poerner has started working on the basic design of the construction of a new bitumen unit at the refinery, the statement said.

"Three agreements, namely, engineering, license and warranty, will be signed with the company," the statement said.

The source said that the agreements are planned to be signed soon, but did not disclose their total amount.

A new bitumen unit with a capacity of 400,000 metric tons per year is to be constructed as part of the modernization and reconstruction of the Heydar Aliyev refinery.

Earlier, SOCAR head Rovnag Abdullayev said that the modernization of the Heydar Aliyev Baku Oil Refinery would be completed by late 2018.

After the reconstruction, the processing capacity of the refinery will increase from 6 million to 7.5 million metric tons of oil per year.

SOCAR announced about liquidation of Azneftyag oil refinery on January 1, 2015 and its merger with the Heydar Aliyev Baku Oil Refinery as part of the work on improving and optimization of SOCAR's structure.

In total, over 5.31 million metric tons of petroleum products were produced in Azerbaijan in 2014, compared to 5.09 million metric tons in 2013.

Edited by CN

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follow the author on Twitter: @MaksimTsurkov

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