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Brooge Energy to Increase Oil Storage Capacity in UAE

Gasoil News - Published on Tue, 14 Jul 2020

Image Source: Brooge Energy
Brooge Energy Ltd. expects new tanks at its oil-storage terminal in the United Arab Emirates to be fully operational by the end of the year, with a single customer booked to lease all the additional capacity. Phase II expansion will include the construction of 8 additional oil storage tanks with an aggregate geometric oil storage capacity of approximately 0.601 million cubic meters, which will increase BPGIC’s aggregate geometric oil storage capacity to approximately 1 million cubic meters, or 6.3 million barrels. After operations of Phase II in Q4 2020, Brooge expects to be the second largest non-captive storage provider in Fujairah. Construction of Phase II commenced in September 2018. Upon completion of construction, and similarly to Phase I, operations will commence on a staggered basis to ensure a safe and efficient start-up of operations. The Company has contracted phase 2 and anticipates 100% utilization of capacity by the end of 2020. Phase II is expected to provide storage and blending of crude oil, in addition to fuel oil and clean products. As part of Phase II, BROG is following a similar approach to Phase I by investing in high-grade, long-life materials for the construction and development of its facilities.

The Company has secured a land lease to further expand its storage capacity in the Port of Fujairah near its existing facilities to increase from 1 million cubic meters in Phase I and II to approximately 4.5 million cubic meters. The Phase III Land is the subject of ongoing feasibility studies, which, in parallel with prospective end-user discussions, will enable BPGIC to determine the optimal layout and product mix. Phase III is expected to come online in late 2022.

Phase I commenced operations in Jan 2018. Phase I is comprised of 14 oil storage tanks with an aggregate geometric oil storage capacity of approximately 0.399 million cubic meters and related infrastructure.

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Posted By : Yogender Pancholi on Tue, 14 Jul 2020
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