SOCAR To Host Oil Gas Processing And Petrochemical Complex Forum

February 15, 2012
Analysis and preparation of concrete proposals on establishment of the modern Oil Gas Processing and Petrochemical Complex in the country was assigned to the State Oil Company of Azerbaijan Republic by the President of the Republic of Azerbaijan Ilham Aliyev.

Relevant works have been done, proposals have been developed in this connection, and corresponding works are under way. Regarding the above mentioned, construction of oil refinery with annual capacity of 10 million tons, gas processing plant with annual capacity of 10 billion cubic meters of gas, as well as petrochemical complex with polymer production capacity of 2 million tons is considered within the Oil Gas Processing and Petrochemical Complex (OGPC) project near Baku. Besides, centralized plant facility and Thermal Power Center will be constructed within the Complex.

In general, the complex configuration will include more than 30 technological facilities. The OGPC project cost is estimated at USD 15 billion. The complex will be fully operational in 2020. According to preliminary estimations, the project is considered economically attractive, and investments will be refunded within 6-7 years. Promotion of the project, informing about the project to a wide range of world renowned companies, including potential licensors, engineering design, supply, logistics, construction, ecological, financing and other contracting companies, as well as their involving in relevant works on project, creating business relations with local and foreign companies, organizations are of great importance in realization of large-scale projects such as the OGPC project.

In order to carry out these issues, SOCAR will host a special “SOCAR OGPC Forum” dedicated to OGPC project at the Hilton hotel in Baku on April 10-12. SOCAR directly supports the event and is also a general sponsor of the forum. Iteca Caspian and INBC Consulting are the forum organizers. The forum will cover discussions on oil and gas processing and petrochemical history, current state and construction of new oil gas processing and petrochemical complex. The first two days of the event envisage hearing presentations by SOCAR and attendees, the third day – bilateral meetings between SOCAR and various companies.

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