FUJAIRAH, 3rd November, 2016 (WAM) — Thanks to its strategic geographic location, Fujairah is playing an increasing significant role in the regional and global oil trade and bunkering, said H.H. Sheikh Hamad bin Mohammed Al Sharqi, Supreme Council Member and Ruler of Fujairah.
”Fujairah is expanding its oil terminal storage capacity to cater to the demand of global companies,” HH Sheikh Hamad said during the inauguration of the seventh expansion phase of Vopak Horizon Fujairah Limited’s Black Pearl project on Thursday.
The Black Pearl project is a collaboration between Vopak Horizon Fujairah and the Port of Fujairah.
The completion of the construction of five crude oil tanks with a total capacity of 478.000 cubic metre, ten dedicated lines, a substation and connection to the new very large crude carrier jetty at the Port of Fujairah will lift the storage capacity of Vopak Horizon Fujairah to 2.6 million cbm.
Vopak Horizon Fujairah Limited is a joint venture of Royal Vopak, Horizon Terminals Ltd – wholly owned by Emirates National Oil Company (ENOC), the Government of Fujairah and Kuwait’s Independent Petroleum Group.
The latest expansion would further leverage Fujairah’s position as one of the world’s largest bunkering and refined products centres, Saif Humaid Al Falasi, CEO of ENOC, said.