Byco has achieved yet another historic milestone by bringing the first ever oil tanker of 70,000 metric tons to its newly established deep sea Single Point Mooring (SPM) facility constructed by Byco Terminal Pakistan Ltd, a Byco group company. Prime Minister's Adviser on Petroleum and Natural Resources, Dr Asim Hussain had inaugurated the operational block of the recently completed Byco Oil Refining Complex at Mouza Kund, Lasbela, Balochistan on Sunday.
Byco's crude oil tanker M T ARIETIS carrying 70,000 tons upper Zakum crude oil from Abu Dahbi was berthed at first ever SPM yesterday. This marks the commissioning of third port which will be used for import of crude oil and petroleum related products. With a clear draft of 25 meters this facility could accommodate larger size vessels carrying crude/ petroleum products in cargo sizes of over 100,000 tons. The full operation of SPM will cause to create adequate availability of other oil piers leading to reduced waiting time and consequential demurrage.
In the initial stages, the SPM shall be used to import crude oil for Byco's newly completed 120,000 bpd and the existing fully operative smaller refinery of 35,000 bpd. The SPM has been set up on the coast of Arabian Sea at a distance of approximately 14km from the Byco's Mouza Kund site and is approximately 10 kilometers from the sea shore at 25 meters depth. It is connected to the storage tanks through 28 inch diameter offshore and onshore pipeline.
Speaking at this momentous occasion, Imran Farookhi, CEO, Byco Terminals Pakistan Limited, the company that owns and operates the SPM, said, "The arrival of M T ARIETIS marks the end of one journey and the beginning of a new one. With the blessings of the Almighty, we have conquered all obstacles and are ready to meet the needs of Pakistan's growing oil needs."
Presently the petroleum products are being imported through Karachi and Bin Qasim Ports and both these Ports have a draft limitation and as such cannot accommodate larger ships. The SPM facility with a draft of 25 meters will allow mooring of larger crude carriers, which will not only result into lower administrative cost but will also bring in substantial savings on account of difference in freight charges, thus giving SPM facility a strategic advantage. An infrastructure company set-up to facilitate the logistics of petroleum products, Byco Terminals Pakistan Ltd (BTPL), formerly Universal Terminal Limited, is a wholly owned subsidiary of Byco Petroleum Pakistan Limited.
Comments
Comments are closed.