In 16 years a new refinery to be built in Azerbaijan

Baku. 20 February. REPORT.AZ/ Construction of a new refinery in Azerbaijan scheduled for 2031-2032. Report, informs it was stated by the vice-president of the State Oil Company of Azerbaijan (SOCAR) on processing David Mammadov said in his speech at the Winter School SOCAR for journalists.

According D. Mamedov the life of the refinery is 50 years old:In any case, lifecycle of the oil refinery is 40-50 years.Our factories are outdated. The foundation of our company was founded in the 50s of the last century.This equipment is used for at least 39 years old.Currently, the construction of a new refinery, corresponding to the new requirements, will not be cost-effective.Construction of a new refinery in Azerbaijan is scheduled for 2031-2032.