Last update: March 25, 2017 15:13

SOCAR Signs Licence Agreements

By Farid Malikov December 23, 2016

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The State Oil Company of the Azerbaijan Republic (SOCAR) signed technology license agreements with several international companies on December 20th for the advanced processing of natural gas and the production of high-quality polymer products as a part of the SOCAR GPC Project. The companies (China Petrochemical Technology Company, Technip, Univation Technologies, and Axens SA) will provide engineering and design solutions for gas processing and gas chemical plants to be built in Garadagh, about 10 miles south of Baku. 

The SOCAR GPC Project will be financed within China's Silk Road Economic Belt Project. The Project will export natural gas and gas condensate produced from the processing of raw materials, C2+ fractions polymerisation, polyethylene and polypropylene products to Turkey, Western Europe, and China. Polyethylene exports are projected to start in 2022. 

The contracts were signed by SOCAR President Rovnag Abdullayev, Sinopec Deputy General Manager for Technical Issues Zhu Yinquan, President of Univation Technologies Steve Stanley, Sales Director at Axens SA Fabien Lundy, and President of Technip EMIA Marco Villa. The event was also attended by the U.S. Ambassador to Azerbaijan Robert F. Cekuta, French Ambassador Aurelia Bouchez, Italian Ambassador Giampaolo Cutillo, and Chinese Ambassador Wei Jinghua.

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