SOCAR’s oil and gas and petrochemical project department deputy head Shamil Hakimov told News.Az the complex will consist of an oil refinery, liquefied natural gas (LNG) processing plant, petrochemical plant and power plant.
"The complex will be realized stage by stage. The first stage envisages speeding up work on the gas processing plant," Hakimov added.
The gas processing plant would be the first to be operational in 2017 with the complex being completed in 2020.
The gas processing plant would have a capacity of 15bn cubic meters per year while the oil refinery will process 10m tons of crude oil per year.
Nearly 70% of feedstock will be derived from the Shirvan, Oil Rocks and Surakhani fields, while the rest of the 30% will be Azeri Light and additional feedstock could be sourced from Russian and Kazakh oil.
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