Baku, Azerbaijan, Apr. 13
By Maksim Tsurkov – Trend:
Modernization of the Heydar Aliyev Baku Oil Refinery will allow optimizing the operation expenditures of the plant, said Babek Beydullayev, senior project finance specialist of SOCAR GPC project.
He made the remarks at the 4th international forum Caspian Energy 2017, held in Baku Apr. 12.
The refinery’s modernization will increase its profitability, noted Beydullayev.
“The processing capacity will increase from six to 7.5 million tons of oil per year. Produced goods will meet the Euro-5 standard. The production of light oil products and processing volume will significantly increase, and this will help to optimize the refinery’s operation expenditures,” he added.
He went on to say that the annual production of gasoline after modernization will be 2.168 million tons (1.224 million tons of which will be accounted for A-92 gasoline and 944,000 tons – for A-95 gasoline), as compared to 1.14 million tons (A-92 gasoline only) in 2016.
The production of diesel fuel will stand at 2.916 million tons as compared to 1.882 million tons in 2016, aviation fuel – will be 984,000 tons as compared to 627,000 tons in 2016, said Beydullayev.
He added that the production of bitumen will grow to 400,000 tons from 179,000 tons in 2016.
The refinery’s modernization process will be completed until 2020. The cost of the Heydar Aliyev Baku Oil Refinery’s modernization will total nearly $1.5-1.7 billion.
Beydullayev also spoke about the aims of modernization of the Azerikimya Production Union.
“As a result of modernization of enterprises of Azerikimya, the production volume will reach at least 110,000 tons of ethylene and 160,000 tons of propylene per year, which will allow fulfilling obligations of SOCAR Polymer on the supply of raw materials,” he added. “In turn, the production base will be transferred from naphtha to gas, which will increase the efficiency of production, help to optimize expenditures thanks to lower gas prices as compared to naphtha, as well as will also increase the safety level of production at the Production Union.”
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