$12-13 billion to be invested in processing facility

The investments volume needed to build a new oil and gas refining complex will amount to $12-$13 billion, State Oil Company of the Azerbaijan Republic (SOCAR) Vice President of Strategic Development Tofig Gahramanov said on Thursday at the 18th International Caspian Oil and Gas Refining and Petrochemicals Exhibition and Conference in Baku.

Gahramanov said recoupment of funds to be invested in building the complex is 6-7 years.

Commissioning the facility will be performed in phases and will cover 2018-2020. Primarily, the project stipulates first commissioning of a gas processing plant (GPP) with capacity of 10 billion cubic meters, then - chemical industry, and the last will be commissioned refinery with capacity of 10 million tons.

GPP plans to process gas from fields developed by SOCAR independently, the Azeri-Chirag-Guneshli fields, and if necessary, gas (SOCAR’s share) from the Shah Deniz Field.

Gahramanov said the complex will produce petrol A-92, A-95, A-98 and jet fuel. Also, a significant portion of production will fell to production of diesel fuel, because demand for diesel is growing.


/Trend/