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SOCAR to provide PMC service for methanol plant construction in Russia

Oil&Gas Materials 31 October 2019 17:32 (UTC +04:00)

BAKU, Azerbaijan, Oct.31

By Leman Zeynalova - Trend:

Azerbaijan’s state oil company SOCAR has been selected as a PMC contractor (Project Management Contract) for a methanol plant construction in Russia, the company told Trend.

Thus, SOCAR became the first Azerbaijani company to be selected a PMC contractor in Russia.

The contract provides for project management, including managing the resources of the customer and contractors.

SOCAR provides a project management service at all stages, which includes planning for project management and execution, ensuring implementation of plans, monitoring, control, change management to achieve project results on time, within budget and with the required quality parameters.

The plant with a capacity of 1.83 million tons per year will be built in the city of Vysotsk, Leningrad Region. Commissioning is expected in 2023.

All methanol produced will be exported. The product will be shipped for export at the Lukoil oil terminal in Vysotsk.

SOCAR is the owner of SOCAR Methanol, the sole of its kind in the South Caucasus and Central Asia. The plant’s capacity is 650,000-700,000 tons of products per year. SOCAR acquired the plant from Aqrarkredit non-bank credit organization. The cost of the plant was estimated at $520 million.

SOCAR is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan. Three production divisions, one oil refineries and one gas processing plant, a deep water platform fabrication yard, two trusts, one institution, and 23 subdivisions are operating as corporate entities under SOCAR.

SOCAR conducts various petroleum activities in countries such as Georgia, Turkey, Romania, Switzerland, Germany and Ukraine, including trading activities, mainly in Switzerland, Singapore and Nigeria.

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Follow the author on Twitter: @Lyaman_Zeyn

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