(MENAFN - Trend News Agency)
Baku, Azerbaijan, April 24
By Sara Israfilbayova – Trend:
The new bitumen plant at the Heydar Aliyev Baku Oil Refinery will reach its full production capacity during the second quarter of 2019, Baladadash Zeynalov, Head of Process-Engineering Division at the Heydar Aliyev Baku Oil Refinery, told during a conference on 'Oil Refining and Petrochemistry of the Caspian Sea and Central Asia - Conjuncture, Projects Implementation, Technical Solutions' in Baku, Trend reports.
According to Zeynalov, the main goal of modernization is to meet the demand of the population for oil products in the next 15-20 years, and to provide Azerkimya with raw materials and gas.
Further, speaking of the importance of modernization, Zeynalov said that this makes it possible to reduce emissions into the atmosphere, create new jobs, and also satisfy domestic demand.
"As of today, the plant has produced 300 million tons of oil, and 15 types of products are being produced overall," he said.
The modernization of the Heydar Aliyev Baku Oil Refinery, which will be completed by 2021, is currently being carried out. After the modernization work is completed, the operational life of the enterprise will increase to 2040.
The cost of upgrading the Heydar Aliyev Baku Oil Refinery is estimated at about $2.2 billion.
The 4th SOCAR International Caspian and Central Asia Downstream Forum on Trading, Logistics, Refining and Petrochemicals was started in Baku on April 22, 2019. SOCAR Forum is the region's largest event in the field of oil and gas.
The Conference on Oil Refining and Petrochemistry of the Caspian Sea and Central Asia is being held today on April 24 as part of the forum.
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