SOCAR to open oil terminal in UAE this year

SOCAR Aurora Fujairah Terminal in the United Arab Emirates will be opened this year, head of the investment department of the State Oil Company of Azerbaijan Republic (SOCAR) Vagif Aliyev said.

In May, 2010, SOCAR and Swiss Aurora Progress reached an agreement for construction of oilproducts terminal in Fujairah, UAE to develop the oil storages. SOCAR’s member company SOCAR Trading S. A., which established joint venture SOCAR Aurora, represents SOCAR in this deal.

SOCAR Aurora Fujairah Terminal will consist of 20 tanks with total capacity of 641 000 cubic meters. The terminal will be supplied with modern equipments and store oil fuel, gasoline, vaporizing oil and other distillates (diesel, gas oil, reactive vaporizing oil and etc.)

The new terminal will be used for storage of oil products not produced in Azerbaijan. SOCAR Aurora terminal will be an independent operator offering oil products storage volumes to the third parties.


/APA/