The State Oil Company of Azerbaijan (SOCAR) has begun work within the transfer of communications, 60 kilometres from Baku where a new Oil and Gas Processing and Petrochemical Complex (OGPC) will be located, SOCAR said on Dec.11.
Around 4200 hectares has been set aside for the construction of a new complex that will be located in the Garadagh district of Baku and the country's Absheron region. Currently, design work is being carried out with relevant structures in order to ensure the work on transference of telephone and power transmission lines, as well as gas and water pipelines runs to schedule.
Following the completion of the design process, the procedure to transfer the communications will begin.
Creation of a new complex worth of $17 billion including interest on bank loans, envisages the construction of a petrochemical enterprise with a capacity of 1.7 million tons of finished products, an oil refinery with a capacity of 10 million tons per year on primary oil refining, as well as a gas processing plant with a capacity of 10 billion cubic meters a year. The depth of oil processing at the plant will be about 95 per cent and the yield of light oil products will amount to 85 per cent.
In future it is planned to increase the capacity of the gas processing plant to 15 billion cubic meters per year. It is supposed to create a thermal power plant with a capacity of 250 megawatts as part of the construction of the new complex.
Earlier, SOCAR Vice-President for Refining David Mammadov said the State Oil Company plans to fully commission the OGPC and start production there in 2023-2025.