DES PLAINES, Ill., March 15, 2016 /PRNewswire/ -- Honeywell (NYSE: HON) announced today that the State Oil Company of Azerbaijan Republic (SOCAR) will use a suite of Honeywell UOP technologies to modernize its oil refinery in Baku, Azerbaijan, to produce high-quality gasoline that meets stricter emission standards.
The effort will help Azerbaijan meet growing domestic demand for transportation fuels that meet international emission standards equivalent to Euro V fuel requirements.
"Honeywell UOP will provide a suite of technologies that will allow SOCAR to efficiently produce higher octane gasoline with far fewer contaminants," said Pete Piotrowski, vice president and general manager for Honeywell UOP. "This latest effort builds on a strong business relationship with SOCAR, which includes an economic and technical assessment of the refinery and builds on work by Honeywell UOP for SOCAR's new STAR refinery in Turkey."
In addition to technology licensing, Honeywell UOP will provide basic engineering designs and a process revamp study for SOCAR. Honeywell UOP technologies licensed for the refinery include:
For more information about UOP's refining solutions visit www.uop.com.
The State Oil Company of the Azerbaijan Republic (SOCAR) is involved in exploring oil and gas fields; producing, processing and transporting oil, gas, and gas condensate; marketing petroleum and petrochemical products in domestic and international markets; and supplying natural gas to industry and the public in Azerbaijan. SOCAR also has representative offices in Georgia, Turkey, Romania, Austria, Switzerland, Kazakhstan, Great Britain, Germany and Ukraine, as well as trading companies in Switzerland, Singapore, Vietnam, Nigeria and other countries.
Honeywell Performance Materials and Technologies (PMT) is a global leader in developing advanced materials, oil and gas processing technologies and industrial automation solutions. PMT's Advanced Materials businesses manufacture a variety of high-performance products, including environmentally friendlier refrigerants and materials used to manufacture products such as bullet-resistant armor, nylon, computer chips and pharmaceutical packaging. Process technologies and equipment from PMT's Honeywell UOP business (www.uop.com) are the foundation for the world's oil and gas industry, efficiently producing gasoline, diesel, jet fuel, petrochemicals, natural gas and renewable fuels. PMT's Process Solutions business (www.honeywellprocess.com) is a pioneer in automation control, instrumentation and services for the oil and gas, refining, pulp and paper, industrial power generation, chemicals and petrochemicals, biofuels, life sciences, and metals, minerals and mining industries.
Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes, and industry; turbochargers; and performance materials. For more news and information on Honeywell, please visit www.honeywellnow.com.
This release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.