Honeywell UOP Technology to join Baku Oil Refinery modernization project
Azerbaijan’s state oil company SOCAR will use a suite of Honeywell UOP technologies to modernize its oil refinery in Baku, to produce high-quality gasoline that meets stricter emission standards, Honeywell (HON) reported.
Honeywell is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes, and industry; turbochargers; and performance materials.
The effort will help Azerbaijan meet growing domestic demand for transportation fuels that meet international emission standards equivalent to Euro V fuel requirements, the report said.
"Honeywell UOP will provide a suite of technologies that will allow SOCAR to efficiently produce higher octane gasoline with far fewer contaminants," said Pete Piotrowski, vice president and general manager for Honeywell UOP.
"This latest effort builds on a strong business relationship with SOCAR, which includes an economic and technical assessment of the refinery and builds on work by Honeywell UOP for SOCAR's new STAR refinery in Turkey."
The process of modernization of the Baku Oil Refinery will be completed by late 2020. After the completion of the reconstruction, the processing capacity of the refinery will increase to 7.5 million tons of oil per year.
SOCAR announced the liquidation of Azneftyag oil refinery and its merger with the Heydar Aliyev Baku Oil Refinery in January 2015. This decision was taken as part of the work to improve and optimize SOCAR’s structure.
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