03 2016 |
Vopak Horizon Fujairah adds 478,000 cbm crude oil capacity, increasing its total capacity to 2.6 million cbm
● This first independent capacity in the Middle East for crude oil with full VLCC access is a major stepping stone adding crude oil to the Fujairah trading hub.
● Vopak Horizon Fujairah’s solid safety track record continues: safe construction of the new tanks contributes to a total of 15 million man-hours without LTI over the last 9 years.
Vopak Horizon Fujairah Limited celebrated the commissioning of the 7th phase of expansion, known as Project Black Pearl, adding 478,000 cubic meters (cbm) of crude oil storage capacity to increase the facility’s total capacity to 2.6 million cbm.
This new capacity is the first crude oil capacity in the Middle East for independent storage purposes with open access and very large crude carrier (VLCC) access. Its open access means capacity for all parties that need to store crude oil. With a total storage capacity of 2.6 million cbm, Vopak Horizon Fujairah is one of the largest independent oil storage terminals in the world.
The expansion features five storage tanks, one manifold and a pipeline connection to the VLCC jetty as well as to other jetties in the Port of Fujairah. All crude oil handled in the new tanks will be loaded and discharged through the jetties of the Port of Fujairah. The Port of Fujairah opened a new VLCC jetty in September 2016. Vopak Horizon Fujairah is the launching customer for this new jetty.
H.E. Saif Humaid Al Falasi, Group CEO, ENOC, said: “The latest expansion of Vopak Horizon Fujairah strengthens the emirate as one of the world’s leading hubs for crude oil and oil products. I especially thank the Government of Fujairah for their continued and ongoing support to the venture. Our continuous partnership with the Government reflects our national prerogative to champion the cause of the country’s potential and its culture of innovation and entrepreneurship which enhances the Emirate’s status as a premier hub for imports and exports.
“Fujairah will further boost its influence as an oil-trading hub with the addition of the region’s first crude-shipment jetty and expanded storage facilities. Vopak Horizon Fujairah will be an integral part of that growth over the next few years,” added Al Falasi.
Eelco Hoekstra, Chairman of the Executive Board and CEO of Royal Vopak, comments: "We congratulate the team of Vopak Horizon Fujairah, our strategic partners and the Port of Fujairah, for successfully and safely completing this major expansion project. Another safety milestone to be proud of. We are very excited that, with this open access crude oil capacity, we are together laying the foundation for Fujairah to also become a trading hub for crude oil in the important Gulf Region.”
Vopak Horizon Fujairah has a solid safety track record with over 15 million man-hours and nine years without LTI. The latest expansion project contributed with 3 million safe man-hours.
Fujairah is the country’s only emirate fully outside the Strait of Hormuz, a shipping chokepoint at the entrance to the Arabian Gulf through which about a third of global oil shipments pass, according to the U.S. Energy Information Administration. Its location on the Indian Ocean provides direct access to markets in Asia and Africa, thus becoming a strategic position to attract greater export/import, and also boost frequencies of maritime routes to and from this region.