December 6, 2012 [TNK-BP] - TNK-BP informs that the Ryazan Oil Refinery Company (RORC) will invest $175 mln in its tank farm upgrade program till 2020. The 2012 investment will amount to approximately $3.5 mln, the plan for 2013 envisages $15 mln.
This project is a part of a comprehensive program aimed at RORC equipment modernization in accordance with the long-term operational efficiency improvement strategy. The upgrade of the tank farm, which will include expansion of the existing and construction of new capacities in the period until 2020, will allow storage of bigger oil and products volumes and bring industrial and environmental safety to the level of most stringent world standards. The program envisages construction of 24 new tanks with an overall capacity of more than 240 thousand cubic meters. As a result of the project, the storage capacity will increase 1.5 times for crude oil, 43% for fuel oil and 12% for gasoline.
“RORC has been consistently increasing its oil products output and additional oil and products storage capacity is required to ensure maximum efficiency of the process flow. The tank farm upgrade is a part of the long-term refinery development program and an important element of our policy aimed at better industrial safety and environmental protection,” says Anatoly Skoromets, RORC General Director.
