Killajoules

Axens selected as licensor for clean fuel technologies for SOCAR Heydar Aliyev Baku Oil Refinery
As a major licensor for clean fuel production, Axens has been selected for the modernization project of the Heydar Aliyev Oil Refinery that will enable the refinery, located at Baku, to increase its annual processing capacity, from 6.0 to 7.5 Mtpa (million tons per annum), and produce high-quality Euro 5 fuels. This project is today one of the most important projects of SOCAR at a downstream stage.

Socar Star Refinery Project Financing Completed
The SOCAR owned STAR Refinery Project, in Turkey has announced that financing agreements have been signed with a consortium of banks.

SOCAR and Transneft sign new agreement
After lengthy negotiations on resumption of oil transportation via Baku-Novorossiysk oil pipeline, SOCAR and Russian Transneft signed a new deal based on mutually beneficial terms and conditions.

Foster Wheeler Awarded PMC Contract By STAR Rafineri For Grassroots Refinery In Turkey
Foster Wheeler AG (Nasdaq:FWLT) announced today that a subsidiary of its Global Engineering and Construction (E&C) Group has been awarded a contract by STAR Rafineri A.Ş., a subsidiary of SOCAR Turkey, for project management consultancy (PMC) services for its grassroots Aegean Refinery to be built within the Petkim Petrokimya A.Ş. (PETKİM) facilities at Aliağa, Turkey.

STAR Rafineri A.Ş. – About Credit Proposals related to Project Financing
Our Company has been informed that STAR Rafineri A.Ş., in which we have 18,5% indirect share through our subsidiary, Turcas Rafineri Yatırımları A.Ş., has received binding credit proposals in the amount of around 5 billion USD in total from 17 local and international banks related to financing of STAR Refinery Project, necessary financing for STAR Refinery Project is around 3.5 billion USD, closing process of project financing would start after STAR Rafineri A.Ş.’s selection among proposals.

Further developments about this issue will be shared with the public.

Ex-Im Bank Approves $641 Million to Finance the Export of U.S.Refinery Equipment to Turkey
In a boost for U.S. jobs, the Export-Import Bank of the United States (Ex-Im Bank) has authorized a $640.7 million direct loan to Star Refineri A.S. (Star) of Istanbul, Turkey, that will finance the export of American-made oil refinery equipment and support approximately 3,000 U.S. jobs, according to bank estimates derived from Departments of Commerce and Labor data and methodology.

BP, SOCAR, Total and Fluxys join the TAP project
The Trans Adriatic Pipeline AG (TAP) today announced that BP, SOCAR and Total - members of the international consortium developing the giant Shah Deniz field in Azerbaijan - have exercised their option to join the Trans Adriatic Pipeline AG.

SOCAR purchases a major stake in Greece natural gas transmission system operator - DESFA S.A.
State Oil Company of Azerbaijan (SOCAR) is pleased to announce that it has reached the principal agreement with Hellenic Republic Assets Development Fund (HRADF/TAIPED) for the acquisition of 66% stake in Greece natural gas transmission system operator - DESFA.

New well commissioned on Darvin Bankasy field
The well #664 from the platform #670 has been recently commissioned after completion of drilling works on Darvin Bankasy field.

Shah Deniz Begins Evaluating Final Gas Transportation Offers
The Shah Deniz consortium has begun evaluating final offers it has received from the Nabucco Gas Pipeline International and Trans Adriatic Pipeline (TAP) for transportation of Shah Deniz Stage 2 gas to Europe. The submissions allow the Shah Deniz consortium to conduct the final evaluation of each of the transportation options and make an informed decision on the preferred export route to Europe. The final decision on the European pipeline is expected to be made by end of June 2013.