Baku. 5 November. REPORT.AZ/ State Oil Company of Azerbaijan (SOCAR) has decided to modernize the refinery named after Heydar Aliyev in order to ensure the internal market by motor gasoline. Report informs, president of SOCAR Rovnag Abdullayev told journalists.
"This will allow us to provide the domestic market with high-octane gasoline Euro-5 to 2030. 1 bln manats needed for the modernization of enterprise. During the reconstruction there will be built 7-8 new installations," said R. Abdullayev.
According to the head of SOCAR, as a result of works on modernization the refinery capacity from the current 6 mln tons will be brought to 7.5-8 mln tons per year.
"In addition, after the completion of the plant reconstruction dismantling of another refinery - Azerneftyaq will be started, which will extend the territory of Baku Boulevard. Reconstruction of the refinery named after Heydar Aliyev will be completed in 2018-2019," said R. Abdullayev.
In the framework of the Oil and Gas processing and Petrochemical Complex (OGPC) project to 2030 it is planned to complete the construction of the major new oil refinery.