BAKU, Azerbaijan, December 26. Representatives of SOCAR Petroleum SA, subsidiary of the State Oil Company of Azerbaijan (SOCAR), visited Constanta port to view the area provided by the Romanian authorities within the "Oil Terminal SA" (Romanian state-run port operator) territory for the planned construction of a bitumen terminal, a source informed about the matter told Trend.
According to the source, SOCAR Petroleum SA participated in the Romanian Energy Ministry's offer alongside six other international companies, all of which submitted bids to the ministry by November 20 for the development of a bitumen terminal in the port of Constanta.
Takida Terminal SRL, Frial SA, OMV Petrom SA, Vitaro Energy SRL, Trafigura Pte Ltd, and Euronova Energies SA have also indicated interest in the project.
The proposal evaluation and prize selection will take place in early 2024.
"We are hoping for success. The Romanian government wants the facility to be operational by 2028, as the country is suffering from a chronic bitumen shortage. Many projects in the country require bitumen for implementation," the source noted.
According to the estimates of the Romanian Energy Ministry, domestic bitumen production covers only 20 percent of the country's needs, and authorities are inclined towards substantial imports.
The management of "Oil Terminal SA" has signed a lease agreement with the administration of the Constanta seaport for the site of the future bitumen terminal at berth No. 69 (one of seven docks) connected to the coastal transport infrastructure.
SOCAR Petroleum SA concluded 2022 with a net profit of 5.3 million lei and a turnover of about 2.6 billion lei after 12 years of existence in Romania.
In Romania, the company owns approximately 70 petrol stations.
Furthermore, with three warehouses in Teius, Onesti, and Constanta, SOCAR Petroleum SA imports and distributes petrochemical products such as methanol, urea, polyethylene, and polypropylene throughout Romania.
The governments of Azerbaijan and Romania explored the prospect of extending SOCAR's business in Romania in the summer of 2023.
