Baku oil refineries to be shutdown by 2018

He noted that these enterprises and their facilities are too old. "Naturally, we will not install new facilities on the said plants due to the aforementioned facts", said he.

As for Azerkimya's plants, their fate will be defined by the government.

The SOCAR representative announced that the complex is expected to be completed in 2018. Primarily, complexes on deep gas processing, chemical production and thermal electric power plants will be constructed and launched in 2012. The second stage envisions construction of oil refining and petrochemical complexes, planned to be completed in 2018.

According to the company representative, investments into the construction of the whole complex may total EUR 20-22 bln.

The capacity of the oil refining complex will be 10,000,000 at the initial stage with possible expansion. It will refine all kinds of oil except for Azeri Light.

Gas processing capacity will make 20 bln cubic meters at the initial stage with possible expansion to 40 bln cubic meters.

"We will hold talks with the consortium on Shah Deniz field development for receiving up to 4 bln cubic meters of gas per year from this field. The plant will mostly process SOCAR's own gas. We may purchase gas from the consortium, subject it to deep processing and sell it after processing. Products, excreted in the result of deep gas processing, will be sent for petrochemical production", said SOCAR representative.

/Day.Az/