Brooge Petroleum and Gas Investment Co (BPGIC) and Sahara Energy Resources DMCC Dubai has reportedly signed a partnership agreement to set up a 250,000 barrel per day (bpd) capacity oil refinery for producing IMO 2020 compliant bunker fuel in the Emirate of Fujairah.
The first phase of the planned refinery is expected to be completed by Q1 2020.
“The new facility will contribute to bolstering the growing status of the Emirate of Fujairah in the Oil & Gas industry and help meet the growing demand for shipping fuel that complies with the new international laws on capping sulphur content in shipping fuels, as most of current shipping fuel contains up to 3.5% sulphur,” said Nicolaas Paardenkooper, CEO of BPGIC.
“It falls in line with the company's expansion strategy and its growing contribution to the development of the Oil & Gas industry in the UAE by injecting more investments into this essential sector.”
Executive Director, Sahara Group, Wale Ajibade, said the Fujairah-located refinery unit would make the company a major supplier of IMO 2020 compliant products in the UAE as well as in African, Asian and European markets.
“Sahara Energy DMCC is delighted to be part of this landmark leap into the future of clean energy,” he said.
“We are constantly seeking opportunities to expand our operations and develop the sector in line with global best practices.
“Bringing energy to life is the passion that drives us at Sahara and we are committed to ensuring that our energy is accessible, clean and ultimately reliable for promoting sustainable development globally.”
Published: 15 May, 2019
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