(MENAFN- Trend News Agency ) Baku, Azerbaijan, Oct. 12
By Maksim Tsurkov – Trend:
The timing of start of production at the Star oil refinery in Turkey has changed, Zaur Gahramanov, head of SOCAR Turkey Enerji (subsidiary of Azerbaijan's state oil company SOCAR), told reporters in Baku Oct. 12.
He noted that changes in the original project contributed to this.
'It is planned that the first sale of the plant's output will begin in September 2018, and the plant's full commissioning will take place in December 2018. Production will begin in August 2018,' Gahramanov said.
Construction of Star oil refinery has been completed by 95 percent. It was earlier planned to start production at the plant in April 2018.
The refinery will be able to process 10 million tons of oil per year with storage capacity volume of 1.6 million cubic meters. The plant will annually produce 1.6 million tons of naphtha, 5 million tons of diesel fuel, 1.6 million tons of jet fuel, 300,000 tons of liquefied petroleum gas and 1 million tons of raw materials for the manufacture of petrochemicals.
The total cost of the Star oil refinery construction exceeds $5 billion.
Under a decree of Azerbaijan's President Ilham Aliyev on additional measures to support the participation of Azerbaijan in the construction of the Star refinery in Turkey, SOCAR Turkey Yatirim JSC was created with an authorized capital of $1.9 billion and with 40-percent share held by the state. Under the decree, the state share in SOCAR Turkey Yatirim JSC will be financed by SOFAZ (State Oil Fund of Azerbaijan).
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