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Special group to manage Baku Oil Refinery reconstruction

9 March 2016 11:32 (UTC+04:00)
Special group to manage Baku Oil Refinery reconstruction

Azerbaijan’s state energy company SOCAR and the KBR company will create an ad hoc group of experts for the management of the reconstruction work of the Baku Oil Refinery named after Heydar Aliyev.

SOCAR announced that creation of an expert group is stipulated in the agreement signed by Refinery Director Elman Ismayilov and board member of SOCAR-KBR joint venture Jan Brendeland on March 7.

At a meeting with Brendeland, SOCAR President Rovnag Abdullayev said that after modernization, output of oil products of ‘Euro 5’ standard will be implemented at the refinery.

Abdullayev went on to add that gradual reconstruction will be continued until 2019-2020.

The refinery processing capacity will increase from 6 to 7.5 million tons per year after reconstruction. SOCAR announced about the elimination of Azneftyag refinery and merging it 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.

Azerbaijan's energy giant SOCAR, which is keen on expanding operations in the retail oil products market abroad is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in the domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan.

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