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Oil supermajor, BP has awarded the project management services contract for its operations in Azerbaijan and Georgia to the SOCAR-Petrofac joint venture. The three-year contract requires the JV to provide support for both onshore and offshore activity across BP operated projects in the Caspian Sea area including Azeri-Chirag-Gunashli (ACG), Shah Deniz, Baku-Tbilisi-Ceyhan (BTC), South Caucasus Pipeline (SCP) and Western Route Export Pipeline (WREP).
Vietnamese state-backed Binh Son Refining and Petrochemical Co (BSR) has reached an agreement with SOCAR to purchase 5 mln barrels of crude in 2020. A statement on BSR’s website read that SOCAR will supply 5 mln barrels of Azeri Light crude to BSR-operated Dung Quat refinery. Vietnam has seen increased dependence over imported crude due to slow domestic output and China's stance in the region which hampers offshore exploration.
Oilfield services major, Petrofac’s joint venture Azerbaijani state-run firm, SOCAR has won an Engineering and Technical Services contract in Azerbaijan. The contract will require Petrofac-SOCAR JV to support activities in the Absheron natural gas field, located in the Caspian Sea. French supermajor, Total and SOCAR own 50% stakes each in the Absheron field.
State-run SOCAR has revealed plans of expanding its portfolio of processed grades of oil at its $6.3 billion-STAR refinery in Turkey. General Manager at the Azerbaijani energy firm said that the STAR refinery is already running at full capacity and intends to process approx. 900,000 tonnes of crude from May. The refinery, which started operations in October 2018, has processed only Rosneft’s Urals crude oil.
Oil supermajor BP has awarded a drilling and engineering contract to the Turan Drilling & Engineering Company LLC, a joint venture between KCA Deutag and SOCAR AQS. The contract award builds on the successful local content development strategy by BP. The scope of the contract includes offshore operations and maintenance activities for BP-operated rigs in the Azeri-Chirag-Gunashli (ACG) oil and Shah Deniz gas fields.
Supermajor, BP and Azerbaijani state-owned SOCAR’s subsidiary in Turkey yesterday entered into a Heads of Agreement (HoA). Under the agreement, the two oil firms agreed to assess the formation of a joint venture for building and operating a world-scale petrochemicals complex in Turkey. The complex is expected to manufacture 1.25 million tpa of purified terephthalic acid (PTA), 840,000 tpa paraxylene (PX) and 340,000 tpa benzene.
Technology giant, Honeywell informed that Azerbaijani state-owned SOCAR will deploy Honeywell UOP’s Pressure Swing Adsorption (PSA) technology at its Heydar Aliyev Oil Refinery (HAOR). Honeywell’s technology will enable Azerbaijan to meet the rising demand for Euro V standard transportation fuels. As part of modernising the HAOR plant, HoneywellUOP will supply two PSA units, controlled by Honeywell Process Solutions C300 distributed control systems.
According to the source, SOCAR Turkey, the state oil company of Azerbaijan, is planning an acquisition in natural gas distribution in 2019. For this, the company has made an offer to EWE, the German energy company. Feasibility assessment has been completed by SOCAR in order to invest in the second petrochemical facility, informed the Chief External Affairs Officer, Murat LeCompte.
Azerbaijan’s state-owned SOCAR is all set to start-up its new refinery in Turkey, next week. The $6.3 billion Star refinery will provide feedstock to Turkish petrochemicals firm, Petkim to help cut Turkey’s reliance on imported refined oil products. SOCAR’s refinery would have the capacity to process about 200,000 barrels of crude per day, estimated to produce 1.6 million tonnes of naphtha and 420,000 tonnes of xylenes, apart from other products.
SOCAR Turkey Energy AS has awarded a contract to oilfield services giant, Baker Hughes to deploy its proprietary Asset Performance Management (APM) software at SOCAR’s refining and petrochemical complexes in Turkey. The contract has come as part of an asset management system establishment and implementation project at the complexes. BHGE will carry out the contract with cooperation with Flour Corporation.
Trade house Socar Ukraine, reportedly, imported close to 250 million cu m of natural gas in the first half of 2018, and became the leader in gas import to Ukraine. According to a report released by SOCAR Energy Ukraine, the gas import was 4-fold more versus the 2017 same term. CEO, SOCAR Energy Ukraine stated that the company will strive continuously to increase the import volume of natural gas.
A new polymer plant has been constructed under SOCAR Polymer project in Sumgayit Chemical Industrial Park. This project strengthens the industrial potential of Azerbaijan, commented the Italian President while talking about the significance of the project during the inauguration of the same. Talking about the relations of Italy and Azerbaijan, he thanked SOCAR and Maire Tecnimont for the success of the project.