Baku, Azerbaijan, April 30
By Leman Zeynalova – Trend:
To date, the overall progress in the project for modernization of the Baku Oil Refinery named after Heydar Aliyev is 30 percent, Deputy Head of Public Relations Department at Azerbaijan’s state oil company SOCAR Ibrahim Ahmadov told Trend.
The amount of payments for the project exceeded $500 million as of late March 2019, he added.
“In general, at present, work is underway on the detailed design, procurement, and delivery of equipment and materials to the refinery. Construction work is also continuing. The first stage of reconstruction and modernization of the Heydar Aliyev refinery was completed in December last year, when the opening of a new bitumen plant with an annual capacity of 400,000 tons was held with the participation of President Ilham Aliyev. Moreover, a new liquefied gas terminal was commissioned as part of the first stage,” Ahmadov said.
Currently, Heydar Aliyev Baku Oil Refinery is undergoing modernization, which will be completed in 2021. Following the modernization, the refinery’s capacity will increase from 6 million tons per year to 8 million tons per year, while its operational term will be extended until 2040.
The cost of modernization of the Heydar Aliyev Oil Refinery is estimated at around $2.2 billion.
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