SOCAR: Azerbaijan to build oil and gas refinery by 2019
The process of preparing a feasibility study of a new petrochemical
complex which will be located in the Garadagh district of Baku will
be completed this fall, state oil company SOCAR’s Vice-President
David Mammadov said Friday.
"We are preparing a feasibility study. It will be completed by late September", Mammadov said at a meeting with members of the Caspian-European Integration Business Club (CEIBC).
He said that a new petrochemical complex requires deep processing of Azerbaijan’s hydrocarbon resources, in particular, of natural and associated gas, oil refining to obtain oil products, automotive fuels and lubricants, as well as the development of new petrochemicals based on petroleum and gas refining.
The complex also includes the construction of its own power station. According to preliminary estimates, based on projected population by 2050, the number of vehicles, consumption of fuel and lubricants, the complex will refine up to 40 billion cubic meters of gas a year, and the processing capacity of crude oil, estimated for the next 40 years, is about 15 million tons.
The complex is expected to operate at full capacity by 2018-2019. Construction of gas refining and petrochemical enterprises will be launched in the initial stage. Stage by stage, a thermal power center will be built to meet the internal needs of the complex.*
"We are preparing a feasibility study. It will be completed by late September", Mammadov said at a meeting with members of the Caspian-European Integration Business Club (CEIBC).
He said that a new petrochemical complex requires deep processing of Azerbaijan’s hydrocarbon resources, in particular, of natural and associated gas, oil refining to obtain oil products, automotive fuels and lubricants, as well as the development of new petrochemicals based on petroleum and gas refining.
The complex also includes the construction of its own power station. According to preliminary estimates, based on projected population by 2050, the number of vehicles, consumption of fuel and lubricants, the complex will refine up to 40 billion cubic meters of gas a year, and the processing capacity of crude oil, estimated for the next 40 years, is about 15 million tons.
The complex is expected to operate at full capacity by 2018-2019. Construction of gas refining and petrochemical enterprises will be launched in the initial stage. Stage by stage, a thermal power center will be built to meet the internal needs of the complex.*
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