The Turkish energy market monitoring council, EPDK, has issued a
license to the State Oil Company of the Azerbaijani Republic (SOCAR)
for construction of the Petkim oil refinery, 1news.az reports, citing
a communique from SOCAR.
The SOCAR-Turcas alliance requested the license in December 2008. The
executive manager of Petkim, Kenan Yavuza, said that 7-10 thousand
people will be involved in the construction and 1000 will work in it.
Construction will start in 2011. It will be in operation by 2014 in
Aliaga, producing 10 million tons annually. Yavuz said that $6 billion
had been invested, making Petkim one of the strongest holdings in the
region.
The technical-economic basis has already been prepared, as well as the
effects of the refinery on the environment. Vice-president of SOCAR
Davud Mamedov said earlier that it will be constructed in 5 years. It
will also reconsider the product range of the Petkim oil refinery.
The head of SOCAR, Rovnag Abdullayev, said that Petkim plans
integrating with Sumgayita. The SOCAR-Turcas alliance has held 51% of
the shares of the Turkish holding Petkim since 2007.
