Azerbaijan to build new complex on oil and gas processing by 2019

The process of preparing a study of a new petrochemical complex, which will be located in Garadagh district of Baku will be completed by late September, SOCAR vice president for refining David Mammadov said at a meeting with members of the Caspian-European Integration Business Club (CEIBC) today.

"We are preparing a feasibility study. It will be completed by late September", Mammadov said.

He said that a new petrochemical complex requires deep processing of hydrocarbon resources of Azerbaijan, in particular, of natural and associated gas, oil refining to obtain oil products, automotive fuels and lubricants, as well as the development of a new petrochemical-based products of petroleum and gas processing.

The complex also includes the construction of its own electric power station. According to preliminary data (resulting from the calculation of the population by 2050, the number of vehicles, consumption of fuel and lubricants), the volume of gas processing in the complex will amount to 40 billion cubic meters a year, and processing capacity of crude oil (with the prospect for the next 40 years), approximately 15 million tons.

It is assumed that the entire complex will work at full capacity in 2018-2019. Construction of gas processing and petrochemical enterprises will be launched. Thermal power center will be built to meet the internal needs of the complex.


/Trend/