By Leman Mammadova
By providing major facilities with fuel, STAR Oil Refinery is making significant contribution to the development of SOCAR's activities abroad.
The state oil company of Azerbaijan SOCAR starts supplying jet fuel to the new Istanbul airport, SOCAR Turkey Energy told Trend.
“Since January, the Star Oil Refinery has been supplying naphtha to the Petkim petrochemical complex. Refinery also began supplying jet fuel to the new airport of Istanbul,” said the company.
As reported by the company, the testing process at the Star refinery has been completed, all facilities have been commissioned and production is increasing.
“This year, the Star refinery will process eight million tons of crude oil. Star refinery can process various types of crude oil. Currently, most of the processed raw materials is Urals oil from Russia,” said SOCAR Turkey Energy.
The opening ceremony of the new airport in Istanbul, costing 10 billion Turkish liras, was held on October 29, 2018. The third airport was built near the Lake Terkos in northern Istanbul. Limak-Kolin-Cengiz-MaPa-Kalyon consortium of companies won the tender for construction of the airport.
Recently, SOCAR, under the brand name SOCAR Aviation, has won a tender for providing the new Istanbul airport with fuel. The company will provide the airport with 700,000 tons of fuel annually for five years.
As earlier reported, once the new airport starts operating at full capacity, it will account for 60 percent of Turkey aviation’s fuel demand. After the start of full-scale operation of the Star refinery in Turkey, the plant will produce 1.6 million tons of jet fuel annually.
Despite SOCAR’s presence in the aviation market of Turkey since 2013, the company managed to enter the top three largest suppliers of fuel to the country’s aviation sector.
SOCAR began supplying fuel to Turkey by signing a major agreement with Pegasus. From 2019, SOCAR Aviation is already providing half of Sabiha Gokcen airport’s fuel demand, and also supplies airports in Izmir, Bodrum, Antalya, and Dalaman with fuel.
SOCAR carries out its activity in Turkey through SOCAR Turkey. SOCAR has already made $15 billion out of $19.5 billion of investments in Turkey that are important steps towards ensuring Turkey’s energy supply security. SOCAR Turkey’s share in SOCAR constitutes 35 percent. Meanwhile, 5,000 people work in the company, while the export potential reaches $3 billion. The company has a controlling stake (51 percent) in the Petkim petrochemical complex on the Aliaga peninsula since 2008 and owns the STAR oil refinery.
This year, SOCAR will start construction of a new petrochemical complex in Turkey, which is expected to be commissioned at the end of 2022.
Moreover, SOCAR will establish a petrochemical research and development (R&D) center in Turkey by 2020. Construction will start this year. R&D center will focus on the development of petrochemical products, materials, and energy efficiency, as well as wastewater treatment technologies.
Leman Mammadova is AzerNews’ staff journalist, follow her on Twitter: @leman_888
Follow us on Twitter @AzerNewsAz