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SOCAR Passes Pre-Qualification Tender for Control Packet of Shares of Turkey’s Largest Petrochemical Company

Oil&Gas Materials 5 June 2007 18:00 (UTC +04:00)

Azerbaijan, Baku / Trend corr S. Aliyev / The State Oil Company of Azerbaijan Republic (SOCAR) together with its Turkish partner, Turkas, has passed pre-qualification tender for purchase of control packet of shares of the company PETKIM, Turkey's largest petrochemical company, a high-ranking SOCAR representative reported on 5 June.

Eighteen companies passed the pre-qualification. The SOCAR representative did not exclude the possibility of the formation of alliances among several of the companies. A proposal for the participation of SOCAR

SOCAR considers the possibility of the construction of an oil-refinery plant with the capacity of 10mln of tons at the Turkish port of Ceyhan. The application for a construction license has already been submitted. A petrochemical complex is expected to be built on the basis of the aforementioned enterprise.

The enterprises will mainly be targeted to the Mediterranean market, Turkey, Greece, Italy and other countries in particular.

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