JTC Corporation, the developer behind the Jurong Island petrochemicals storage hub, is planning to build a floating oil and petrochemicals storage terminal at Pulau Sebarok in Singapore.
The company is approaching consultants to prepare the engineering, procurement and construction (EPC) tender for the very large floating structures (VLFS). The tender is likely to go out as early Q4 2010. This follows its completion of feasibility studies on the VLFS in March this year.
The floating storage will help boost supply of oil/ petrochemicals storage needed in Singapore's oil refining/trading hub.
Singapore has a shortage of land space for tankage and faced with increased demand for oil storage by traders JTC recently embarked on building the $890 million (704 million) first phase of Jurong Rock Cavern to store oil underground.
Phase one, which started in 2007, and which developed a preliminary structural conceptual design of an attached-to-land VLFS storage, progressed to phase two covering areas like environmental impact, marine soil investigation and engineering surveys and sea current monitoring and metocean design data analysis.
The development of the VLFS will now proceed in four stages. Under stage one, the appointed consultant will review the preliminary structural conceptual design of the floating storage and redesign it such that the VLFS will have the flexibility of being constructed from concrete or steel. It will also need to provide cost comparisons for the two.
Stage two involves preparing tender documents for the calling of the EPC tender as well as that for the environmental management and monitoring plan; while stage three covers calling and evaluation of the tender; and stage four, the VLFS construction and completion.
Pulau Sebarok is currently used for onshore storage by independent storage terminal provider Vopak and PetroChina-owned Singapore Petroleum Company.
In order to be economical the minimum storage capacity of a VLFS should be 300,000m3, equivalent to a very large crude carrier, JTC studies found.
The VLFS would comprise two rectangular modules, each measuring 180m by 80m by 15m, and with 150,000m3 capacity.