SOCAR to provide managerial expertise to Antipinsky Refinery

SOCAR to provide managerial expertise to Antipinsky Refinery
Published: 3 November 2019 - 3 a.m.
By: Martin Menachery
State Oil Company of Azerbaijan, SOCAR, completed necessary procedures and became a minority shareholder of the SOCAR Energoresurs Group in Russia.

SOCAR Energoresurs Group unites Antipinsky Refinery and three oil fields with 45 million tonnes of proven oil reserves in Orenburg Oblast, Russia. SOCAR’s main role in this project is to provide managerial expertise to Antipinsky Refinery. Given the structure of the agreement, SOCAR’s participation in the Antipinsky Refinery does not create risks for SOCAR related to the refinery’s previous debts.

Antipinsky Refinery has annual production capacity of 7.5 million tonnes. It produces diesel, vacuum gasoil, naphtha, gasoline (A80 and A92), coke, technical sulphur, process oil and liquefied gas.

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