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SOCAR plans to implement second petrochemical project in Turkey

Oil&Gas Materials 20 July 2017 15:21
Azerbaijan’s state oil company SOCAR plans to implement the second petrochemical project worth $3 billion in Turkey until 2023.
SOCAR plans to implement second petrochemical project in Turkey

Baku, Azerbaijan, July 20

By Azad Hasanli – Trend:

Azerbaijan’s state oil company SOCAR plans to implement the second petrochemical project worth $3 billion in Turkey until 2023, SOCAR President Rovnag Abdullayev said in an interview with the Anadolu Agency.

According to him, this project is planned to be started after the completion of the Star refinery’s construction.

“As of today, SOCAR investments in Turkey reached about $19.5 billion, a part of which has been invested in the Star refinery. Currently, it is difficult to speak about the final volume of investments in the refinery,” said Abdullayev. He added that at the current stage, SOCAR invested $6 billion in the project and its construction has already been completed by 90 percent.

Earlier, Head of SOCAR Turkey Enerji A.S. Zaur Gahramanov told Trend that the company is working on a project to create a new chemical enterprise in Turkey. According to Gahramanov, most likely, it will be a joint venture. He added that Saudi Aramco, with which SOCAR holds relevant negotiations, may become one of the potential investors.

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