London	+4420 814 42225
Moscow	+7495 543 9194
Kiev	+38044 599 2950
info@mrcplast.com

News >

SOCAR to construct petrochemical complex

March 26/2012

(chemicals-technology) -- The State Oil Company of Azerbaijan Republic (SOCAR) is planning to construct an oil and gas processing and petrochemical complex near Baku, Azerbaijan.

The project, which is expected to cost around EUR13bn, is scheduled to start in 2020. SOCAR and the Azerbaijan government will invest 30% into the complex, while the remaining amount will come from private investors.
The complex will have 30 processing plants and a thermal power plant, and will process 10mt of oil and 10bn m? of gas.

SOCAR vice president Tofig Gahramanov was quoted by europeanplasticsnews as saying that the complex will also produce 670,000t of polyethylene and 550,000t of polypropylene. The complex has received interest from companies in Japan, the US, Korea and Italy, according to Gahramanov. SOCAR said the payback period of the project is between six and seven years.

Formed from the merger of Azerneft and Azneftkimiya, SOCAR is involved in the exploration of oil and gas fields, oil and gas production, processing and transportation, and the marketing of petroleum and petrochemical products.

SOCAR has its head office in Baku and representative offices in Bucharest, Frankfurt am Main, Geneva, London, Istanbul, Vienna, Astana and Tehran.

Author:	Anna Larionova
Tags:	PP.
Category:	General News

|

| More

Leave a comment

MRC help

23.05.2019: PE imports to Ukraine increased by 18% in January-April 2019
23.05.2019: BASF to build engineering plastics and thermoplastic polyurethanes plants at new Verbund site in Zhanjiang, China
23.05.2019: Pucheng Clean Energy shuts CTO plant for maintenance
23.05.2019: Hengli boosts Saudi oil buys as new refinery ramps up
23.05.2019: Stratasys and Solvay partner to bring new FDM materials to market
23.05.2019: Bilfinger wins EUR60 million contract from SABIC
23.05.2019: Brooge Petroleum to build oil refinery in Fujairah
23.05.2019: BASF improved supply of attapulgite-based additives to meet increasing demand in major markets
23.05.2019: Bilfinger to undertake EPC installation and modification works at ADNOC plant
23.05.2019: GAIL approves building PP complex using existing LPG facility at Usar
23.05.2019: Daelim to start maintenance at LLDPE plant
22.05.2019: PP imports to Ukraine up 17% in January-April 2019
22.05.2019: PP imports to Belarus rose by 7.1% in Q1 2019
22.05.2019: SIBUR oficially launches DOTP production at Perm site
22.05.2019: Transneft to discuss oil contamination in Poland on Thursday
22.05.2019: Brazil corn ethanol industry booms as cereal's output nears 100 mln T
22.05.2019: Total curbs German refinery output, national supply security not at risk
22.05.2019: Unplanned outage reported at Beek cracker by SABIC
22.05.2019: Angola awards fuel tender to Total, Trafigura
22.05.2019: SABIC to make further significant investments in high heat ULTEM resin capacity

All News News subscribe