Within the project of reconstruction and modernization of the plant, the Heydar Aliyev Baku Oil Refinery of the State Oil Company of Azerbaijan Republic (SOCAR) and Tecnicas Reunidas (Spain) company have today officially signed an Engineering, Procurement, and Construction (EPC) contract for reconstruction of facilities.

President of SOCAR Rovnag Abdullayev, Vice President for Strategic Development Tofig Gahramanov, Vice President on Refining David Mammadov, Vice President for Economic Affairs Suleyman Gasimov, Chief executive officers of the company, Director of Heydar Aliyev Baku Oil Refinery Elman Ismayilov, Deputy Chairman of the Board of Directors of TR, First Vice Chairman/CEO at Tecnicas Reunidas SA Juan Llado Arburua, General Director of Corporate Development Enrique Alsina Massana, Director of Proposal Management Department Carlos Molinero Monge and other officials have attended the signing ceremony.

The contract was signed by the Director of the Baku Oil Refinery E. Ismayilov and the Director General of TR company Enrique Alsina Massana.

The contract with the company TR provides for reconstruction of existing installations and general economy of the plant.

Speaking at the event, SOCAR President R. Abdullayev congratulated the Tecnicas Reunidas on becoming winner of the selection procedure. He noted that today SOCAR implements a number of large investment projects in the field of production, as well as it contributes to the diversification of its business portfolio and the country's economy: "SOCAR's refinery and modernization project at Heydar Aliyev Oil Refinery has a special place in this context. We are now in the process of launching more modern and efficient facilities for meeting demand for quality engine fuels, diesel and gasoline products that meet the Euro-5 standards. I believe that cooperation with Tecnicas Reunidas will have a positive effect on successful implementation of this project”.

Notably, SOCAR is planning to carry out reconstruction at the refinery in three stages and to build 14 new plants:

Construction and commissioning of a new Bitumen plant and associated plant facilities, as well as a new gas-filling station in Phase I in 2018;

Construction of new facilities for getting diesel fuel that meets the Euro-5 quality standard at the second stage by the end of 2020 and implementation of relevant reconstruction works;

In final stage, construction and reconstruction of new A-92/95/98 petrol production facilities by 2021 that meet the Euro-5 quality standards.

As a result of the works, annual processing capacity of the plant will increase from 6 mln. to 7.5 mln tons, quality indicators of produced gasoline and diesel fuel will meet the Euro-5 standards and A-92/95/98 gasoline products of the plant.

AZERTAC