News 2012
# 1 (73) February, 2012Atyrau Oil Processing Plant
The Atyrau Oil Processing Plant (AOPP) has signed a contract with a consortium involving Sinopec Engineering, the Marubeni Corporation and OGCC KazStroyService JSC for the construction of a turnkey integrated oil refining complex (IORC), for a cost of $1.7 billion, a report from KazMunaiGas (KMG) says.
According to the document, the construction of the IORC is being launched under the state program accelerated industrial-innovative development and is the final phase of the reconstruction of the AOPP.
This will increase oil refining up to 85%, produce motor fuels conforming to Euro-5 and process heavy oil. The complex is designed to process 2.4 million tons of raw materials (oil, vacuum gas oil) per year. The implementation period is set to be 41 months.
The consortium, which includes Sinopec Engineering (China), Marubeni Corporation (Japan) and JSC OGCC KazStroyService (Kazakhstan) was established in October 2011. Sinopec Engineering is responsible for overall project implementation.
Marubeni Corporation arranges financing from the Japan Bank for International Cooperation, and is involved in procurement and logistics. KazStroyService will oversee the construction and supply.
"Reconstruction is taking place at the existing production site. This creates certain difficulties for the implementation of the project, but I am sure that in 2016, the AOPP will be the first company to produce Euro-5automotive fuels" said Director of the AOPP Talgat Baitaziyev, according to KazTAG.
The Atyrau refinery, located on the northern shore of the Caspian Sea, can now process 120,000 barrels a day, according to data compiled by Bloomberg.