By Mirsaid Ibrahimzade
SOCAR President Rovnag Abdullayev and company management paid a working visit to Aliagha province viewed the current state at Petkim, STAR refinery, SOCAR Terminal and SOCAR’s other enterprises, and attended the meeting of STAR Oil Refinery Management Board, Report informs citing SOCAR on March 28.
It was noted at the meeting that significant progress was obtained in production indicators as compared to early 2019. During five months, main repairing works were completed and all plants of the refinery were put into operation. STAR NEZ supplied its first naphta to Petkim in January, and put diesel and aircraft fuel to sale in February. STAR NEZ was provided with the latest technologies.
The annual processing capacity of the Refinery is 10 million tons. Main products are diesel (4.8 million tons), aircraft fuel (1.6 million tons), naphtha (1.6 million tons), liquid petroleum gas, mixed xylene, petroleum coke. The Refinery is located in Aliagha peninsula. Along with STAR Refinery, SOCAR also operates the Petkim petrochemical complex, a wind power plant and the SOCAR Terminal in Aliagha province.
The total investment of the project is $ 6.3 billion, of which 90 percent has been already invested. By the end of 2021, Star's total capacity will be increased. In the end, the investment will total $7 billion. STAR has the first investment incentive granted by Turkey.
Opening ceremony of Star Oil Refinery that is the first Turkey-specific Industrial Zone was held in October 2018.
STAR is the biggest investment made by private sector in Turkey. The first crude oil load of 80,000 tons to the STAR Oil Refinery delivered from Azerbaijan. With its 4.8 million tons of diesel fuel and 1.6 million tons of naphtha, Turkey will also increase its competitive power in the global energy market with STAR NEZ, which will also produce oil products such as jet fuel and LPG.
Azerbaijani state company SOCAR invests in Turkey through its subsidiary SOCAR Turkey Energy, which is one of the largest investors in Turkish economy, has started operating under Petkim in 2008.
Eearlier, SOCAR President Rovnag Abdullayev and representatives of the company's management took part in the TANAP board meeting, which was held in Ankara on March 27.
During the meeting, the current status of the TANAP project was discussed.
It was noted that work on the operation of the TANAP site to the city of Eskisehir, as well as on the construction of the section to the border with Greece, is being implemented ahead of schedule.
Construction work on the land has been completed and final commissioning works are underway.
Overall, progress in both phases of the project reached 99.5 percent. From April 15, it is planned to begin filling the gas area from Eskisehir to the Turkish-Greek border.
Follow us on Twitter @AzerNewsAz