"Borouge Petroleum Investments" Participates in the World Future Energy Summit under the umbrella of the Fujairah Pavilion
ABU DHABI, 17 APRIL / WAM / Borouge Petroleum Investments, under the umbrella of the Fujairah Government Pavilion, is participating in the activities of the World Future Energy Summit held at the Abu Dhabi Exhibition Center and continuing until April 18.
Engineer Saif Al Hazaima, Executive Director of Borouge Petroleum Investments, said: Our participation during the current session in the World Future Energy Summit comes to review the company’s projects in the field of oil storage in the Emirate of Fujairah, as the first and second phases of the Borouge Petroleum Investments station include the latest facilities in the field of energy infrastructure. Storage of up to 6.3 million barrels of crude oil and petroleum derivatives, indicating that the station has the highest efficiency of storage operations in terms of the rate at which customers lose a percentage of the products during the storage process, which ensures the provision of the best services to customers, in addition to the presence of the highest tanks in the port of Fujairah and the fastest rate. Flow up to 16,000 cubic meters per hour.
Al-Hazaimeh added: The Borouge station has given environmental considerations a priority since the first phase, as solar-powered systems were installed in all the station’s facilities, and linings were installed under the station to prevent any leakage into groundwater in the event of any leakage, in addition to monitoring regular emissions to ensure air quality. And there are no emissions from modern technology on the tanks.
He explained that the station has the ability to operate multiple processes automatically, and contains one of the best rainwater drainage systems in the Fujairah Port, which allowed the station to be one of the few that continued to operate during the Covid-19 pandemic and periods of heavy rain.
Borouge seeks to support the energy strategy plan in the United Arab Emirates and enhance energy security, and part of this is through the green ammonia project that it plans to implement in Abu Dhabi, where it is planned to produce up to 750,000 metric tons of green ammonia annually using the latest technologies in In addition, a technical and financial study has been conducted on the project, and potential partnerships with financiers and clients for the project from Europe and East Asia are currently being studied.
Al-Hazaima said: The company is keen to achieve the best performance in its business through cooperation with a group of local and regional partners in the field of storing petroleum derivatives. The company was also able to achieve a strong performance in the year 2023, when the expected financial results will be announced in the coming period.
Regarding the Gulf Navigation Group’s acquisition of the company, he said: The acquisition discussions are progressing and we are in the final stages of them, and an official announcement will be made soon, which will contribute to establishing a giant entity in the logistics and petroleum field.
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