Rustam Minnikhanov familiarizes himself with construction of Star Oil Refinery Complex of SOCAR Company

On August 19, during his working visit to Turkey, Tatarstan President Rustam Minnikhanov familiarized himself with construction of Star Refinery of SOCAR Turkey Company.

The project is being implemented by Gemont company, which is also performing construction of the oil refinery plant in Nizhnekamsk.

During the visit Tatarstan delegation was accompanied by Director General of Star Oil Refinery Mesut Ilter and Board Chairman of Gemont Company Sadik Akman. Before the tour around the complex members of the delegation were presented the project of Star Refinery.

SOCAR started construction of the oil refinery in 2011. The total volume of attracted investments amounted to 5.7 billion US dollars, 3.7 billion US dollars of which were invested by SOCAR, and the rest amount is credit funds. At present, construction of the refinery is 92 per cent complete. The complex is expected to be put into operation in 2018. A total of 17,000 workers are working at the construction site.

Once the oil refinery is completed, the capacity of the complex will be 10 million tonnes of oil per year. The plant will process such types of oil as Azeri Light, Kerkuk and Urals.

SOCAR (State Oil Company of Azerbaijan Republic) is the state oil company of the Republic of Azerbaijan. Established in 1992 the company is headquartered in Baku (Azerbaijan).

The company is engaged in exploring oil and gas fields, producing, processing, and transporting oil, natural gas, and natural gas condensates, marketing crude petrol and petrochemical products in domestic and international markets, and supplying natural gas to the population and industrial enterprises.

Until now, SOCAR has invested 12.6 billion US dollars in the Turkish economy. In 2016, SOCAR became the largest foreign investor in the Turkish economy.