SOCAR Refinery Modernization Costs Much More than Planned

The total cost of the project of modernization of the Baku Oil Refinery named after Heydar Aliyev is estimated at about $ 1.5- $ 1.7 billion, the Vice-President of SOCAR on Strategic Development Tofig Gahramanov told the media.

It should be noted that two years ago the cost of the project was estimated at about $ 1 billion, but then rose to $ 1.3 billion. “The project costs will be more than we originally planned. In August we stopped the factory for a month and evaluated it with the assistance of foreign experts. As a result, we need to do more than originally planned, and it will require more investment,” Gahramanov said.

According to his estimates, the investments in the project will amount to $ 1.5- $ 1.7 billion.

Gahramanov stressed that the project costs have amounted to 80 million manat so far.

“As part of the work it is planned to reconstruct 4 existing installations at the plant and the construction of 12 new facilities. It is necessary for us to organize the production of petroleum products by the standards of Euro-5,” he said.

According to him, in January 2017 a tender will be completed to select a company that will build a new plant in April - the company, which will deal with the reconstruction of existing installations.

“Modernization of the refinery will increase the refining capacity from 6 million to 7.5 million tons per year, and the catalytic cracking unit – from 2 to 2.5 million tons a year. After the modernization the annual production of gasoline will increase from 1.3 million tons to 2 3 million tons, diesel fuel - from 2.3 million tons to 2.9 million tons, kerosene - from 700 thousand tons to 1 million tons,” he added.

In the structure of production of petroleum products, which will be made at the refinery after the upgrade, 37% will be diesel fuel, 25% - gasoline, 13% - kerosene, and the remaining 25% will be other types of petroleum products. -0--

Leave a review


Чего ждать после потери Авдеевки? - беседа с военно-политическим экспертом Олександром Мусиенко в "Çətin sual"

InvestPro Azerbaijan Baku & Turkiye Istanbul 2024 – two conferences in one shot

Əziz Bakı şəhəri sakini!

Siz də Qlobal İqlim Dəyişmələri ilə mübarizəyə öz töhfənizi verə bilərsiniz

Dear resident of Baku city!

You too can contribute to the fight against Global Climate Change

Дорогой житель города Баку!

Вы тоже можете внести свой вклад в борьбу с глобальным изменением климата

Follow us on social networks

News Line