STAR – Petkim Aliaga Oil Refinery Complex – Turkey - Project Profile

Synopsis


"STAR Petkim Aliaga Oil Refinery Complex Turkey - Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.

The "STAR Petkim Aliaga Oil Refinery Complex Turkey - Project Profile" is part of Timetrics database of 82,000+ construction projects. Our database includes a 10+ year archive of completed projects, full coverage of all global projects with a value greater than $25 million and key contact details for project managers, owners, consultants, contractors and bidders.

Summary


STAR Refining (STAR) formerly SOCAR & TURCAS Rafineri A.S. (STRAS) a joint ventrue of State Oil Company of Azerbaijan Republic (Socar) and Turcas Petroleum AS (Turcas) is undertaking the construction of a oil refinery complex in Izmir, Turkey.

The project involves the construction of a refinery with a capacity of 10 million tonnes per annum (MTPA). It includes the construction of crude and vacuum distillation units, 1,600,000 tonnes of naphtha hydrotreating unit, a 40,000BPSD delayed coking unit, a 66,000BPSD hydrocracking unit, 690,000 tonnes of oil coke, 159,000 tonnes of sulfur, kerosene and 47,00,000 tonnes of diesel hydrotreaters, 320,000 tonnes of LPG caustic treatment units, 1,600,000 tonnes of jet fuel, a 28,000 BPSD continuous catalytic reformer, a saturated gas unit, an amine and sour water stripper, sulfur and tail gas treatment units, a 160,000Nm3/h hydrogen unit, auxiliary systems, offsite facilities and other related infrastructural facilities.

The naphtha and fuel oil from the hydrocracking unit will be delivered to PETKIM for petrochemical use. The SYDECSM delayed coking technology will be used in the refinery to maximize clean liquid yields while minimizing fuel coke yields.

Technip SA (Italy) has been appointed as a design consultant and UOP LLC (UK) as study consultant.

Axens has been appointed to provide hydrotreating technology. The three units under Axens design are 20,000 barrels per stream day (bpsd) Naphtha Hydrotreater, a 26,000 bpsd Prime-K unit for jet fuel production and a 68,000 bpsd Prime-D unit for the production of 10 ppm sulfur diesel.

Fluor Corporation has been appointed as project management consultant (PMC) contract for the project. The scope of the contract is to select and manage the engineering, procurement and construction (EPC) contractors and provide overall project and construction management.

Unicredit has been appointed as a financial adviser, Foster Wheeler as a design consultant, Cesas Construction Trade And Industry Co. Inc. & Yenign Insaat Sanayi Ve Ticaret A.S. as a site preparation & excavation works contractor.

In October 2011, a groundbreaking ceremony was held and tender was issued to four EPC consortia for the project with August 15, 2012 as bids submission deadline.

In June 2012, STAR received bids from three consortia including the consortium of Tecnicas Reunidas SA, Saipem SpA, GS Engineering & Construction Corporation and Itochu.

In December 2012, STAR selected a consortium of Tecnicas Reunidas SA, Saipem SpA, GS Engineering & Construction Corporation and Itochu for the construction of the project and initiated the process of negotiations to sign the EPC contract.

In May 2013, STAR officially signed EPC contract with a consortium of Tecnicas Reunidas SA, Saipem SpA, GS Engineering & Construction Corporation and Itochu on the project.

On June 22, 2013, the Board of Directors of Black Sea Trade and Development Bank approved the allocation of a $58 million loan for this project which may be granted for a period of 18 years.

The project received US$474 million from State Oil Fund of the Republic of Azerbaijan (Sofaz) between January and December 2013.

The European Bank for Reconstruction and Development (EBRD) is allocating a US$150 million senior secured loan to the STAR Rafineri A.S. for the construction of the project and remaining will be funded by commercial banks and export credit agencies.

In October 2013, the International Finance Corporation (IFC) agreed to provide a loan of US$150 million and organize commercial banks financing for another US$150 million.

In December 2013, Export-Import Bank agreed to provide a loan of US$640.7 million.

Keller Grundbau Ges.m.b.H. and Kastas Piling & Drilling Contractors Co. Inc has been appointed as an anchor contractors mobilizing works and undertaking drilling operations and investigation test tendon fabrication.

In January 2014, Global Engineering and Construction (E&C) Group, a subsidiary of Foster Wheeler AG was appointed to provide PMC services.

In April 2014, Socar was in final stages of negotiations for a US$3.9 billion loan package for the development of the project. 95% of the loan package arranged by the Turkish unit of Unicredit SpA (UCG), Italys biggest lender, will be provided by 15 international lenders with guarantees from export credit agencies, or ECAs, of six countries.

On June 6, 2014, SOCAR signed a US$3,290 million financing deal with 23 banks and export credit agencies for the construction of a project. Banks are BBVA, Banco Popular Espanol, Banco Santander, The Bank of Tokyo Mitsubishi, BNP Paribas, CaixaBank, Credit Agricole Corporate Investment Bank, CESCE, Deutsche Bank, JBIC, ING Bank, Intesa Sanpaolo, KFW IPEX, The Korea Development Bank, KSURE, Natixis, NEXI, SACE, Societe Generale, Unicredit, USEXIM, Export Development Canada Bank and Garanti Bankasi.

EDC will finance US$150 million within the bank consortium, which will be used for development and construction of the project

In December 2014, investigation test program for the ground anchors to stabilize slopes works are underway.

As of November 4, 2015, 35% of construction work has been completed.

In November 2015, Technip SA was awarded a contract to supply reformer for the hydrogen unit of the project. The scope of the contract also includes the supply of proprietary technology, detailed engineering and procurement services for the project.

Construction activities are underway and scheduled to be completed by the third quarter of 2018.

Scope


The project involves the construction of a refinery with a capacity of 10MTPA in Aliaga, Izmir, Turkey.

The US$7,400 million project includes the following:

1. Construction of crude and vacuum distillation units

2. Construction of 1,600,000 tonnes of naphtha hydro-treating

3. Construction of 40,000 BPSD delayed coking unit

4. Construction of 66,000 BPSD hydro-cracking unit

5. Construction of kerosene

6. Construction of LPG caustic treatment units

7. Construction of 28,000 BPSD continuous catalytic reformer

8. Construction of saturated gas unit

9. Construction of 160,000 Nm3/h hydrogen unit

10. Construction of utilities, auxiliary systems and off-site facilities

11. Construction of 690,000 tonnes of oil coke

12. Construction of 4,700,000 tonnes of diesel hydro-treaters

13. Construction of 320,000 tonnes of LPG caustic treatment units

14. Construction of 1,600,000 tonnes of jet fuel

15. Construction of related infrastructural facilities

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1.Key Statistics
2.Key Dates
3.Sector
4.Operating metrics
5.Tender Information
6.Scope
7.Description
8.Latest update
9.Background
10.Key Contacts
11.General News, Project News
12.Appendix


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