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Expenditures of STAR Refinery in Turkey increase

Expenditures for SOCAR’s Turkey-based STAR Refinery increased, head of SOCAR Turkey Energy Zaur Gahramanov said.

According to him, this was caused by technical changes in projection of the Refinery: “If we take into account that the projection started in 2011, this project had been designed on the basis of sorts of oil which we would stock in the plant. We have already expanded sorts of oil and this led to changes in the projection of the refinery. We’ll need big tanks for this”.  

 

Gahramanov said that the current cost of the project is $6 billion: “A part of the funding will be provided by SOFAZ. We continue explorations on the remaining part”. 

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