Azerbaijan, Baku, Nov. 13 / Trend E. Ismayilov /
The State Oil Company of Azerbaijan (SOCAR) intends to receive a feasibility study to build a new oil refinery and petrochemical complex in the Garadag district in the near future, SOCAR senior official said on Saturday.
He said works within the preparation of the new complex's feasibility study have been already completed.
"We will get the feasibility study after 20 days," SOCAR representative said.
The 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, 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.
At present, Azerbaijan has two refineries - Azerneftyag and Baku Oil Refinery. The total capacity of the two refineries is 20 million tons per year.