SOCAR signs new contract within Baku Oil Refinery modernization
Baku Oil Refinery named after Heydar Aliyev and the Amec Foster Wheeler/SOCAR Foster Wheeler alliance have signed a contract for the preliminary front end engineering design (FEED) within the framework of modernization of the refinery.
The State Oil Company of Azerbaijan (SOCAR) made the remark in a message on March 11.
SOCAR President Rovnag Abdullayev and Executive Manager at Amec Foster Wheeler Marco Moresco took part in the signing ceremony.
The agreement was signed by Director of the Oil Refinery Elman Ismayilov, Head of Commercial Operations at Amec Foster Wheeler Enzo Gioviale and General Manager at SOCAR Foster Wheeler Elmaddin Dadashov.
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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