Germany-headquartered Oiltanking has signed an agreement in Peru and could raise drawing board capacity in South Korea.
Oiltanking Andina Services, a joint venture between Oiltanking and engineering and construction business Graña y Montero Petrolera (GMP), has signed an operations and maintenance (O&M) agreement with Pure Biofuels del Peru (PBF) to operate the liquid bulk terminal in Lima, starting 1 March.
Located in Callao Port, the main port of Peru, the terminal has 100.000 m3 of storage capacity equipped to handle petroleum products and biofuels. The terminal has been designed to serve the storage needs of the local market as well as the Pacific region and still has room available for further expansion. Apart from the O&M services Oiltanking Andina Services will also provide commercial support for the terminal.
In related news Oiltanking eyes expansion plans in South Korea.
Oiltanking KNOC Yeosus previously planned 6 million barrel Yeosu, South Korea terminal may be lifted to almost 9 million barrels and just over 30 tanks.
A surge in demand in the region has precipitated the discussion.
The Yeosu terminal would also accommodate four berths to receive regular tankers. Terminal users would co-share KNOC's existing berth, which can handle very large crude carriers. Construction is to be completed by the end of June 2012.
The joint-venture firm is in the process of selecting a local turnkey contractor.