The United Arab Emirates (UAE) says the State Oil Company of Azerbaijan’s (SOCAR) oil terminal at the Gulf port of Fujairah is on track to open on time.
SOCAR is just one of many companies to recently express their interest in developing at the port. As Tank Storage magazine has reported over the past couple of months, PetroChina and IPIC are also to build facilities on the site.
The UAE minister Sultan Bin Saeed Al Mansouri says the SOCAR terminal is due to come into operation in 2011 and will be working with its subsidiary, SOCAR Trading S.A., in a SOCAR Aurora joint venture to complete the project.
The new terminal will feature 20 tanks that will hold just over 640,000m³ of petrochemicals such as fuel oil, petrol, kerosene and middle distillates such as diesel, petrol and jet kerosene.
The company will also provide storage services for third parties.