Enoc unit to commission $100m oil terminal
Dubai, May 26, 2013
Horizon Terminals Limited (HTL), the terminals business and wholly-owned subsidiary of Emirates National Oil Company (Enoc), said its new oil terminal, built at a cost of over $100 million in Fujairah, will be commissioned at the end of this month.
The eleventh terminal of HTL, the new Fujairah facility has a storage capacity of over 240,000 cubic metres, and will significantly contribute to further establishing the emirate as a regional hub for the oil & gas trade.
The new terminal is linked directly to the Port of Fujairah oil tanker berths, and has 10 bays of tanker truck loading racks, associated facilities, an advanced maintenance workshop, and marine receipt and loading pump house.
Equipped to meet the growing demand for storing bulk liquid oil products such as fuel oil, naphtha, gasoline, gas oil, jet fuel and LPG, among others, the new terminal in Fujairah is the second such facility of HTL in the emirate.
It is also the sixth terminal of ENOC in the UAE, with another new terminal being developed in Jebel Ali with a storage capacity of over 141,000 cu m.
Enoc CEO Saeed Khoory said the new oil terminal in Fujairah is of strategic importance to the energy sector of the region, and in further establishing the emirate as a key regional hub in the oil & gas trade.
"Our investment in this new facility marks our commitment to support the Fujairah Government’s strategic growth vision, and also add value to our stakeholders," he stated.
“Today, Enoc is fast evolving as a strong and diversified business entity, and Horizon Terminals plays a key role in economic diversification and in building a strong network of terminal operations globally," he added.
Located on the west side of the Fujairah-Khorfakhan Highway, the new Fujairah Oil Terminal has been built by Singapore-based EPC contractor M/s Audex PTE in 22 months, with 2.6 million safe man hours.
It has been developed to the highest environment, health and safety standards adhering to NFPA and other international codes, said HTL which manages over 6 million cu m of storage with a network of ten other terminals located in various markets, including the UAE, South Korea, Singapore and Morocco.-TradeArabia News Service