Page 13 - MEOG Week 23

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Aramco Trading opens new Fujairah Office
Aramco Trading Co., which expects to see
its oil trading volume rise to six million barrels per day by next year, has opened its second international o ce a er singapore, in Fujairah, UAE.
e event was attended by the rm’s chairman and head of saudi Aramco Downstream Abdulaziz M. Al-Judaimi, and CEO Ibrahim Al-Buainain.
Aramco Trading’s expansion plans are expected to propel the Dhahran-based company into the top tier of global fuel- trading companies. e wholly owned subsidiary of saudi Aramco, the world’s largest oil company by crude oil production, opened the o ce in the UAE Emirate of Fujairah as part of a global push into new markets to secure buyers for re ned products as well as crude.
e new facility, Aramco Trading Fujairah (ATF), will handle all Aramco Trading gasoline and fuel oil storage and blending activities. e opening ceremony was also attended by local dignitaries, including sharief Habib Al Awadhi, director general of the Fujairah Free Zone, Capt. Mousa Morad, managing director of the Port of Fujairah, and Capt. salem Abdullah Al Hamoudi, director of the Fujairah Oil Industry Zone (FOIZ).
Al-Judaimi said: “We have been in Fujairah for a number of years and as our trading business expands globally – between singapore, saudi Arabia, london, Houston – we trade across di erent time zones,
and Fujairah as the centre of our blending operations, we thought it is important to be here, physically doing trading as a business
in Fujairah. We are very happy with the relationships here, be it with our clients, our suppliers and the government – they have been very open and have welcomed us to be here for many years.”
Al-Buainain said: “Aramco Trading has experienced signi cant growth in recent years. We started in 2012 with 600,000 to 700,000 b/d and now we’re operating at more than 4 million b/d – and as the downstream business grows to the level that we want to reach 8-10 million b/d – Aramco Trading will grow together with that business. At Fujairah, we have a growing business that started with 100,000 b/d and now we have 350,000 b/d between gasoline and fuel oil. so, for this reason, Fujairah would be the optimum location that is close to our assets close to the free zone.”
e inauguration of the new o ce facility comes only a month a er Aramco Trading announced that it had sold its rst lNG cargo, the rst of many more to come. In 2012, ATC was established to market re ned products, and bulk petrochemicals. Beginning with re ned products from its overseas re neries in the past years, leading them to introduce trading non-saudi crude oil in 2017 as the world’s largest oil exporter successfully optimizes pro ts.
As the UAE’s only Emirate on the Arabian sea coast, Fujairah is at the heart of the new energy corridor opening East of suez to Asia. e Emirate is already established as a world- scale storage and bunkering centre alongside rotterdam and singapore and is set to bene t in the next few years from companies’ plans to expand crude and petroleum product facilities to avail of the state-of-the-art physical infrastructure on o er.
traDe araBIa
Gas
Third platform en route to South Pars 14B
Iran’s Mehr News Agency reported this week that the third platform has been shipped for installation at south Pars Phase 14.
e 2,400 tonne unit will be installed at the 14B location by the start of July.
Each of the platforms at south Pars 14 will extract around 14 mcm per day of gas.
Meanwhile, the nal platform, 14D, is under construction at the sADrA yard in Bushehr and is now 91% complete. It will be installed in October.
Once 14D is in place, the entire south Pars 14 project will extract 56.6 mcm per day of gas. e feedstock is converted into 50 mcm of sweet gas, 75,000 barrels of gas condensate, 400 tonnes of sulphur, 1 million tonnes of ethane and 1 million tonnes of lPG.
serVICes
Petrofac secures contract with PDO
Petrofac has secured its third project under
a 10-year Framework Agreement with Petroleum Development Oman (PDO)
with the award of a procurement services project for the Mabrouk North East line Pipe Procurement Project in Oman.
e contract, valued at approximately Us$75 million, is the latest to be awarded under the agreement signed in 2017 to provide Engineering, Procurement and Construction Management (EPCM) support services for PDO’s major oil and gas projects.
e 19-month project scope includes management of line pipe material from sourcing, technical and commercial evaluation, planning and control services with management and co-ordination of interfaces with all parties involved.
Elie lahoud, Group Managing Director, Engineering & Construction - Oman, Iraq and saudi Arabia said: “We have a strong track record with PDO in Oman and are delighted to have been awarded this latest project under the long-term framework agreement.
“ e procurement and management activities for this project will be undertaken from Petrofac’s Muscat o ce from where we provide rst-class expertise in high-value order management. We continue to maximise the provision of local goods and services
Week 23 11•June•2019
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