Industry News

26.02.2016 12:18

Design for construction of additional storage tank for oil in SOCAR Black Sea terminal Kulevi completed

The Design Institute of the State Oil Company of Azerbaijan (SOCAR) has finished the design for the construction of an additional storage tank for storage of oil products at the Black Sea Terminal (BST) in Kulevi.

BST Ltd informs that additional storage tank capacity is necessary due to the fact that the terminal has the potential to increase the volume of transshipment of oil and oil products, and is able to react more flexibly to the current requirements of the oil market.

“According to current legislation, a substantial aspect of obtaining a permit for the construction and operation of an oil product storage and transshipment terminal is to obtain an environmental permit. In this connection the Terminal has prepared the Environmental Impact Assessment of this project. Public discussion of EIA will be held on 29 March 2016,” the press release says.

In 2007 SOCAR acquired an oil terminal in Kulevi, invested more than $350 million in the completion of its construction and modernization. The capacity of the object is 10 million tons of oil and oil products per year, the capacity of the existing storage tank of the terminal is 320,000 cu m (16 tanks), but it will be increased.

Fineko/abc, 22.02.2016

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