ECONOMY


SOCAR signs agreement on oil refinery reconstruction

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Baku, February 11, AZERTAC

SOCAR and KT-Kinetics Technology S.p.A of Italy signed an agreement on reconstruction of Heydar Aliyev Baku Oil Refinery.

SOCAR President Rovnag Abdullayev, Chairman of KT-Kinetics Technology S.p.A and Vice President of Maire Technimont Group Gianni Bardazzi, Italian Ambassador to Azerbaijan Giampaolo Cutillo and other officials attended the signing ceremony.

In his remarks, SOCAR President Abdullayev said the refinery reconstruction was one of the important projects carried out by the company. “The project considers modernization of old refinery units and construction of new units to increase the refinery’s capacity from 6 mln to 7.5 mln tons, catalytic cracking unit’s capacity from 2 mln to 2.5 mln tons per year, as well as production of Euro 5 oil products.” “The reconstruction plan also includes the construction of new unit for removing sulphur. KT-Kinetics Technology S.p.A, which is one of the world’s leading company in the field of sulphur recovery facilities, was chosen as a licenser.”

The agreement was signed by Director of Heydar Aliyev Oil Refinery Elman Ismayilov and Business Development Manager at KT-Kinetics Technology S.p.A Michele Colozzi. Earlier SOCAR signed refinery reconstruction agreements with Poerner (Austria), Axens (France) and UOP (UK).

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