SOCAR draws consultants for new oil & gas processing complex

The State Oil Company of Azerbaijan (SOCAR) continues drawing consultants on the project of construction of new oil & gas processing complex (SOCAR OGPC), which it plans to begin in 2013 in Baku.

At today’s meeting of the Caspian-European Integration Business Club (CEIBC) SOCAR vice president for strategic planning Tofig Gahramanov has claimed that choice of three more project consultants is under way.

"We are selecting the financial, legal and environmental consultants," he said, not disclosing however terms of completion of the selection.

Earlier the Company chose Fluor the consultant on choice of licensing systems and equipment. A contract with it will be signed within 1 or 2 weeks. The consultant will help OGPC to include 40 process units to select 27 units requiring purchase of license.

In parallel, the Company is specifying the cost of OGPC, and currently the cost estimate of the complex increased by $1.6 billion up $14.2 billion in net capital expenditures, or up to $17 billion of total investment value (with taking into account costs on attracting and servicing of external funding) .

SOCAR wants to build the complex in Garadagh district of Baku. The project feasibility study was made by Technip, Foster Wheeler, and UOP. The first part of the complex will be commissioned between 2017 and 2018, and the launch of the entire complex is scheduled for late 2020.


/abc.az/