Turcas and SOCAR Energy Plan to Construct $3.5 Billion Refinery in Turkey

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Researched by Industrial Info Resources (Sugar Land, Texas)--SOCAR and Turcas Energy (Istanbul), a joint venture company of Turcas Petrol (Istanbul), the State Oil Company of Azerbaijan Republic (SOCAR) (Baku, Azerbaijan) and Aksoy Holding (Istanbul), is evaluating plans to construct a 200,000-barrel-per-day (BBL/d) refinery in Aliaga, Turkey. The proposed refinery will produce refined products to meet local demand. The joint venture partnership will select an engineering and construction company in early 2010 to perform engineering, procurement, and construction services for the refinery. Construction is expected to commence in the spring of 2011 and take about 48 months to complete.

Turcas Petrol is a leading energy company in Turkey's energy sector. The company is involved in petroleum distribution, oil refining, petrochemicals production and marketing, power generation, distribution and trading, and natural gas importation and wholesale. Turcas and SOCAR Energy was founded as a joint venture company at the end of 2006. The company is also looking to build a refinery of between 200,000 and 400,000 BBL/d in Ceyhan, Turkey.

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