SOCAR and Aurora to partner in Fujairah terminal

Мая 21, 2010

SOCAR and the Swiss Aurora Progress commodity trading house will partner in the development of oil storage facilities, including the new 641,000 m3 oil products storage terminal being built in the Port of Fujairah, UAE.

According to SOCAR Trading Company in Geneva, this step will contribute to the strengthening on SOCAR’s international position. SOCAR envisages establishment of a strong and stable resource base for integration into the world market with confidence. The development in Fujairah is in a key trading hub where volumes are increasing substantially and clearly this is a strategic asset for the future development of the SOCAR group. Within the cooperation, foremost these are going to be tank storage operations that will be providing first rate services to customers. SOCAR Trading may itself rent some of the capacity in the terminals under development. At present, the parties are focusing on the construction of the Fujairah Terminal. It was decided to rename the facility the “SOCAR AURORA Fujairah Terminal”. “SOCAR AURORA Fujairah Terminal” consists of 641,000 m3 of storage across 20 tanks and can handle fuel oils, gasolines, naphthas and middle distillates (diesel, gasoil & jet kerosene). It will be equipped with in-line blending facilities. Consequently, “SOCAR AURORA” will be an independent terminal operator offering storage capacity to third parties. The Port of Fujairah is commissioning this year a new multi berth facility for the receipt and loading of oil tankers. . The “SOCAR AURORA” terminal will be amongst the first to make use of this new vessel handling capacity in the growing energy hub of Fujairah. The Terminal is planned to be operational early next year.
Aurora Progress S.A. is a privately owned Swiss based company with the trade, supply, transport and storage of refined petroleum products as its core activities. The Group’s roots go back to 1978 when Petrotex S.A. was first established; after acquiring Petrotex S.A and its subsidiaries, Aurora Progress continued to expand becoming a global trading company. Today the Group's main trading arm Aurora Petroleum Trading & Supply S.A. is involved in the trading & supplying of petroleum products and supplying bunkers in ports around the world.