The second "Forum for oil and gas refining and petrochemical complex SOCAR» (SOCAR OGPC Forum) began work in Baku today.
The two-day forum is held in sessions "Stages of major oil and gas refining and petrochemical projects EPC (from design to construction)," "Technological advances and market trends in the chemical industries" and "Basic equipment in the oil and gas industry, materials and services," "The main equipment, materials and services to the oil and gas industry," "The financial, economic and legal features of oil and gas refining and petrochemical projects," and "The experience of local contractors in the implementation of large-scale projects. "
The President of the State Oil Company SOCAR Rovnag Abdullayev, speaking about the importance of the forum, said that the two days of presentations and discussions will allow interested companies to obtain information about projects and tenders declared during construction of a new complex for oil and gas processing and petrochemical production. This is a strategic project for SOCAR and it is in the design stage, procurement and construction.
The two-phase project involves the construction of a gas processing plant with a capacity of 12 billion cubic meters per year, as well as a petrochemical plant for the production of polymers with capacity of 860 000 tons until 2020. The total cost of the first phase of the project is estimated at $ 8.5 billion.
By 2030 it is planned to complete the construction of oil and gas processing and petrochemical complex (OGPC). The new projects are focused near Alat, 60 km southwest of Baku. The total preliminary cost of OGPC estimated at 17 billion, of which 70% will come from private investment. Proposals for financing construction of OGPC have been filed by UniCredit, RBS, Societe Generale, BNP Paribas, ING, Credit Agricole and ECGD (Department of Export Credit Guarantees of the UK). The feasibility study (FS) has been arranged by Technip, Foster Wheeler, and UOP.
Speaking of upgrading the refinery named after Heydar Aliyev, where the forum is held, he said that the first phase of the work, including the reconstruction of the equipment will increase the amount of processing from 5 million tons to 8 million tons per year.
The Vice-President of SOCAR for Strategic Development, Tofig Gahramanov said that about another $ 1.5 billion of investments will be directed to the construction and reconstruction of 8 facilities for catalytic cracking unit at this refinery, which will begin production of high-octane gasoline AI-95. -0-
Economics
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