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Bankable Feasibility Study for Supsa Refinery and Petrochemical Complex will be developed by Advisian

GEOPARS announces a new stage in relations with institutional investors. The company has awarded Advisian, the consulting arm of WorleyParsons, the contract to develop a Bankable Feasibility Study (BFS).

Anton Tvelenev, EMEA Regional Director, Chemicals said: “We are delighted to have been selected by GEOPARS to develop the BFS for the Supsa 100,000 BPSD Refinery and Petrochemical complex. The complex will use crude oil imported from adjacent countries to produce motor fuels and petrochemical 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, we will identify the optimum configuration. The study will be supported by cost estimation and financial modelling and will be carried out by our teams in London and Madrid. 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 BFS. In July, we will already have the intermediate results of the market study, and will aim to complete the BFS by the end of October 2018. By then we will look to proactively engage with Financial Institutions to attract investors to participate in this strategic project.

Georgia benefits from an optimum geographical position and has developed an environment favorable for investors, which in turn has made it possible to take on such a large-scale strategic project.

Advisian is the independent consulting business line of WorleyParsons with more than 2,000 people in 19 countries. We provide solutions for clients in the Hydrocarbons, Minerals & Metals, Chemicals, and Infrastructure industries. WorleyParsons is a company that prides itself on providing safe and high-quality services that exceed our customer’s expectations, which is why we manage some of the world’s leading projects.