Standards will be developed for the new oil, gas and petrochemical complex of SOCAR

The Institute of Standardization and Certification signed with the State Oil Company of Azerbaijan agreement providing for the development of approximately 1,000 new national standards for the construction and maintenance of the new oil, gas and petrochemical complex .

In developing standards for the foundation will be taken international and regional standards for construction, as well as oil, gas and chemicals.

The first phase of the project is designed en 2 years. In general, the development of all required standards will take 8 years.

Recall that a decree on the establishment of this industrial giant was published in September 2009 , prepared by SOCAR package of proposals was agreed by the government. The complex is planned to be constructed in the area between Garadagh and Absheron district . It will include a gas processing plant (capacity of 10 billion cubic meters a year), a refinery (10 million tons per year) and a petrochemical plant (1.8 million tons of finished products per year) , as well as power generation and supporting infrastructure . Part of petrochemical products will be exported . It is planned to finance 30% of the investment needs through equity , and 70% - through debt loan. Moreover, 90 % of the share capital will fund the State Oil Fund of Azerbaijan. In 2013, SOFAR spent on these needs $ 270 million or 213 million manat. However, in the nine-month report on the activities of the fund no information on expenditures for this project were available.

According to SOFAR , the complex will be commissioned in 2018-2020, respectively. 08B

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