Arabian Energy Brings Breadth of Storage Terminal Projects to BOT
Malabo – Arabian Energy DMCC, which signed an agreement with the Government of Equatorial Guinea on the Bioko Oil Terminal last week, brings an impressive resume of storage and logistics projects to the partnership. This includes a concession for a storage terminal with a capacity of 165,000 metric tonnes of fuel products in the Red Sea port of Yanbu and an exclusive logistics contract for fuel oil transportation with Saudi Aramco. Arabian Energy’s breadth of experience in transporting and storing petroleum products in the Arabian Gulf will bring valuable perspective for turning the Gulf of Guinea into a regional energy hub.
“By decreasing major imports of petroleum products, the Bioko Oil Terminal will promote efficiency in the midstream space. This investment will have a ripple effect in the value chain of many African economies value chain, creating employment opportunities, efficient and timely delivery of products and competitive pricing,” said Dr. Saud Al Anazi, the chairman and owner of Arabian Energy DMCC.
Bioko Oil Terminal brings several advantages for the region. It creates an African center for the distribution of petroleum products and crude oil and would stimulate the West and Central African industry through job creation and the reduction of imports. The tank farm would attract investment, build local financial capacity and increase shipments to key exports markets.
With 22 storage tanks and a total capacity of 1.2 million cubic meters, Bioko Oil Terminal would be built in two phases, the first consisting of refined production and the second capable of storing, handling and blending middle distillates and lights ends such as diesel, jet fuel, gasoline and naphtha, as well as crude oil. The shared terminal infrastructure will be operated on a “first come, first served” basis.
To learn more about the country’s investment opportunities and the Equatorial Guinea-Saudi Arabia Economic Forum, please visit www.investineg.com. To meet with representatives of Equatorial Guinea’s government, please contact firstname.lastname@example.org.