At least another two years will be required in order to completely disassemble and remove the design of the oil refinery from the coast of Larnaki. It occupies an area of 155,000 sq.m. Of these, 7000 sq.m. It will be necessary to restore the soil.
The Cyprus oil storage company (Ketap) began the latest stage of dismantling the plant in August 2024. The first stage started in 2017.
Chrysis Hadjigorgiu, Secretary of the Board of Ketap and one of the four employees in charge of the facility, said that the company plans to complete all work by 2027.
Dates include the dismantling of ground and extensive underground infrastructure, including pipelines and storage systems.
On July 3, Ketap will introduce the Department of Environment to its methodology for the restoration of a strongly contaminated area with an area of 7000 sq.m., which previously had tanks for storing raw oil. The company plans to begin environmental cleaning for two months, while continuing the dismantling of the remaining objects. A one and a half year contract with a foreign contractor was concluded for the soil reclamation in this most polluted area.
Hajigorgiu recognized minor delays due to difficulties with underground infrastructure, but noted that the purpose of completing work by 2027 remains achievable. Current work includes the removal of asbestos from the buildings before the demolition of a warehouse of chemicals and other structures.
Ketap is a state company, its only owner is the Ministry of Finance. After completing the work, all assets of the company will transfer to the state that will determine the future fate of the vacant site.
The municipality of Larnaki expressed interest in turning part of the territory of the former oil refinery into a student town. The city authorities submitted an official request for the rental of an office building in the fall of 2023 to accommodate a private educational institution of higher education.
A little story
The Cyprus oil refinery was one of the largest industrial facilities in the country.
On April 20, 1965, the Republic of Cyprus signed an agreement with BP, Shell and Mobile. In January 1966, the government transferred 15% of the shares of the Petroraline factory. The aim of the government in conducting negotiations on the creation of an oil refinery in Cyprus was to save foreign currency and ensure independence from unstable international commodity markets. In the country, it could independently determine the retail oil prices. In Cyprus there were the lowest retail prices in Europe.
The construction of the plant began at the end of 1969 and lasted two years. The final budget amounted to 6700 Cyprus pounds. The plant began working in January 1972, and closed in 2004.
The text is prepared based on the materials of IncyPrus and "Polygno"
