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DOWNSTREAM PROJECT MANAGEMENT

04 – 05 OCTOBER 2018  |   FRANKFURT, GERMANY

Advisian to develop bankable feasibility study for Supsa Refinery and petrochemical complex

Posted by GBC on 07-09-2018

Construction of an oil-petrochemical complex worth 1.5 billion USD will begin in Supsa, Georgia, in 2018. This global project will be undertaken by the GEOPARS Company. The Government of Georgia has already allocated 200 hectares of the land to the company under the 1,5 billion investment obligation. The new complex will process 100,000 barrels of crude oil per day, that is, 5mln tones per year.

Construction of an oil-petrochemical complex worth 1.5 billion USD will begin in Supsa, Georgia, in 2018. This global project will be undertaken by the GEOPARS Company. The Government of Georgia has already allocated 200 hectares of the land to the company under the 1,5 billion investment obligation. The new complex will process 100,000 barrels of crude oil per day, that is, 5mln tones per year.
Email: info@globuc.com

The complex will use crude oil imported from adjacent countries to produce motor fuels and petrochemicals products. Advisian has contracted Argus Media Limited based in the UK to carry out the market study to evaluate the motor fuels and petrochemical products markets. The market evaluation will be used to model and analyse potential configurations for the complex and, using proven world-class process technologies, the Advisian team will identify the optimum configuration. The study will be supported by cost estimation and financial modelling and will be carried out by teams in London and Madrid.

Anton Tvelenev, EMEA Regional Director, Chemicals said: “We are delighted to have been selected by GEOPARS to develop the Bankable Feasibility Study (BFS) for the Supsa Refinery and Petrochemical complex. We look forward to further developing our relationship with GEOPARS and increasing our presence in Georgia.”

Lasha Koridze, CEO of GEOPARS said: “It is very important to us to have engaged internationally recognized companies to develop the BFS. In July, we will aim to complete the study by the end of October 2018.”

Lasha Koridze, General Director and Dimitri Kalandadze, Project Director of GEOPARS will attend Downstream Project Management in Frankfurt 04-05 October.

Source: Advisan website

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