SOCAR (State Oil Company of the Azerbaijani Republic) plans to build
an oil base in Georgia, a source at SOCAR Energy Georgia (subsidiary
enterprise of SOCAR in Georgia) told Business Georgia.
Construction is most likely to start in the second half of 2011, the
source told Trend.
The land and documents are ready for construction. The oil base will
be located near the International Airport of Tbilisi. 5 hectares of
land worth $3 million were purchased. Azerbaijani company Encotec
(Engineering and Consulting Technologies) provides designing and
managing, construction and installation services.
The oil base will have 24 reservoirs with a total capacity of 20,500
tons. They will store petrol, diesel and kerosene fuel. Four
reservoirs with a capacity of 300,000 cubic meters each will be built
for liquefied gas. The project requires a bitumen pit capable of
holding 3,000 tons. The co-founders of SOCAR Georgia are: SOCAR - 51%,
Petro-Trans FZCO - 24.5% and Ivan Chkhartishvili - 24.5%.
