Investments for Sangachal terminal expansion reached $2 billion
The total volume of investments for the Sangachal terminal expansion in the framework of the Azeri-Chirag - Gyuneshli (ACG) project reached $2 billion, general director of the Turkish Tekfen Baku office Batachar Baysal told Trend exclusively. The Azerbaijani-Turkish alliance Azfen-Tekfen is a general contractor of Р'Р (the ACG operator) on the Sangachal terminal expansion project.
According to him, the amount of works performed by the alliance within the project is $250 million. Azfen-Tekfen is currently completing works on the terminal expanding within Stage -2 of the ACG project and the works within Stage -3 have started. Tanks for storing the oil and some other works will be performedвЂќ, he noted.
The Stage 3 project envisions development of the deep-water part of the Gyuneshli oil field.
Baysal reported also, the works are performed by 50% in the framework of expanding the terminal for the Shah-Deniz project. "The general expanding of the terminal will last till 2007.