AZERNEFTYAG OIL REFINERY FINDS NECESSARY TO CONSTRUCT NEW OIL BLOCK
The Azerneftyag Oil Refining Plant (ORP), part of the SOCAR, finds it extremely necessary constructing of a new oil block based on ORP itself, which is an independent exporter of oil products, Trend was told at the ORP.
According to the ORPвЂ™s spokesman, $100 millions are needed for implementation of such a project. However, the government has not issued permit to Azerneftyag for the construction of a new oil block so far.
The ORP noted, that the project might be realized in the framework of a new strategy for oil refining in Azerbaijan. Earlier, the Azerneftyag held negotiations with foreign companies on prospects of the oil block construction. The talks, have been, particularly, held with the American ExxonMobil and ChevronTexaco, the transnational ABB Lummus Global and with the RD/Shell.
According to some data, construction of such an oil block may cost the ORP $280-300 millions.