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SOCAR Releases Plans on Construction of Energy Facilities in Turkey

Oil&Gas Materials 5 June 2007 19:03 (UTC +04:00)

Azerbaijan, Baku / Trend corr I. Khalilova / The estimated cost of the construction of the oil-refinery complex of the State Oil Company of Azerbaijan Republic (SOCAR) near the Turkish port of Ceyhan is $5bln, the SOCAR vice president on refining, Davud Mammadov, reported on 5 June.

"Additional expert research will reveal the exact cost. The market is big enough to build a high-capacity plant," Mammadov said.

The construction of the oil-refinery plant will partially be funded by SOCAR and the rest borrowed.

There are plans to build a petrochemical complex near the new plant. SOCAR is waiting for a license to construct energy facilities nearby Ceyhan. A feasibility study has already been submitted to SOCAR. The most important document is assessment of the influence upon the environment.

"We plan to build a new oil-refinery complex with null production of fuel oil. The plant will produce motor benzine, jet engine fuel and diesel oil," Mammadov noted.

The need to construct the petrochemical complex is caused by a great demand in plastic for the food and construction industries of the world. Mostly the plant will produce polypropylene and polyethylene for the packing industry.

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