State Oil Co. of Azerbaijan plans to build a refinery in Baku by 2020, replacing the state oil company’s two existing plants, a refinery official said.
Socar, as the company is known, plans to build a plant with an annual capacity of 10 million metric tons, Rasim Ibrahimov, chief engineer at the Novo-Bakinskiy refinery, said at the World Refining Association conference in Barcelona.
Nizameddin Guliyev, a Socar spokesman, later confirmed the plan to build a plant by phone from Baku.
The new refinery, to be built in the city’s Karadakh suburb, will produce only Euro-5 standard fuels, Ibrahimov said. Euro-5 is the strictest European fuels category.
Novo-Bakinskiy, formerly known as Azneftyanajag, will close once the new plant is finished, Ibrahimov said. Batinskiy, the second plant formerly known as Azeneftyag, will also halt at that point.
The Novo-Bakinskiy plant has a 212,000 barrels a day processing capacity while Batinskiy can refine 230,000 barrels a day.