BAKU, Azerbaijan, February 22
By Amina Nazarli - Trend:
Turkmenistan is conducting a feasibility study on the conceptual strategy for developing the Turkmenbashi Complex of Oil Refineries (TCOR) and the Seydi Oil Refinery (SOR), said Shahym Abdrakhmanov, Deputy Chairman of the Cabinet of Ministers, Trend reports citing the Nebit-Gaz electronic newspaper.
A feasibility study is an examination of the economic profitability, analysis, and calculation of economic indicators of the proposed investment project.
In accordance with the study, it is planned to determine the potential and specific promising vectors for the development of the TCOR and SOR and study the possibilities and directions of modernizing existing technological facilities.
Furthermore, the study specifies the construction of new facilities based on the demand for oil and gas petrochemical products in foreign markets and the available resource potential, as well as increasing the competitiveness of manufactured products, increasing the depth of oil refining, and creating an environmentally friendly and waste-free production.
Turkmenbashi Complex of Oil Refineries, located in Turkmenistan’s Balkan region, develops its industrial potential, transport infrastructure and increases energy exports.
The complex produces unleaded gasoline, aviation and technical kerosene, jet and diesel fuel, fuel oil, lubricating oils, polypropylene, furnace fuel, light gas oil, petroleum electrode coke, liquefied gas, construction and road bitumen, synthetic detergents and others.
The Seydi oil refinery, in the Lebap region, in the city of Seydi, has a processing capacity of six million tons of oil per year. The company's main products are liquefied gas, gas condensate, and light oil products.
A unit for the production of road bitumen with an annual capacity of 37,200 tons was built in the plant's structure in 2015. In addition, in 2017, the refinery opened a catalytic reforming unit with a capacity of 500,000 tons of high-octane gasoline per year.
Turkmenistan pays great attention to the creation of oil and gas processing plants, as well as the export of energy resources to global markets. Recently, the country has allocated more than 138 million to increase its oil and natural gas production.
Last year, Turkmenistan produced 83.77 billion cubic meters of natural gas, the highest volume in 30 years.