Ganja:Baku The State Oil Company of Azerbaijan (SOCAR) is set to significantly increase its total investments in Türkiye to $20 billion through a new project at the STAR Oil Refinery. Kanan Mirzayev, General Manager of Petkim and Head of the Refinery and Petrochemicals Business Unit at SOCAR Türkiye, announced the development, which involves the addition of a new jet fuel unit.

According to Trend News Agency, SOCAR Türkiye is launching a new investment project valued at approximately 6 billion Turkish liras ($120 million) at the STAR Oil Refinery. The project entails the construction of a new jet fuel (Kero-Merox) unit, which will enable the refinery to boost its annual diesel production by 600,000 tons.

The STAR Oil Refinery, owned by SOCAR, has signed a contract with an international consortium for the engineering, procurement, and construction (EPC) of the new unit. The EPC activities are scheduled to commence shortly, with the project expected to be completed and commissioned in the first quarter of 2029.

This investment will allow the STAR Oil Refinery to modify its production structure and enhance its manufacturing capabilities. The current Kerosene Hydrotreating Unit (KHT) will be converted to focus on diesel production, while the new Kero-Merox unit will handle jet fuel production. This transition will provide the refinery with the flexibility to adjust the production volumes of diesel and jet fuel based on market demand.

Mirzayev emphasized the strategic significance of the investment, which aims to improve production flexibility and energy efficiency at the refinery. The additional capacity for diesel production will help reduce Türkiye's reliance on imported diesel and decrease the current account deficit.

The STAR Oil Refinery, which began operations at the end of 2018, initially had an annual processing capacity of 10 million tons. This capacity has since increased to 13 million tons, making it the largest oil refinery in Türkiye. The new project is expected to further expand the refinery's production capabilities, bolster Türkiye's fuel supply, and lessen the country's dependency on diesel imports. Throughout the project's construction and installation phases, a strong emphasis will be placed on occupational health and technical safety requirements.