Borouge Petroleum Investments"Honeywell" They sign an agreement to obtain a gasoline production license in Fujairah
ABU DHABI, 4th November, 2018 (WAM) – Borouge Petroleum and Gas Investments Company announced the signing of a strategic agreement with Honeywell, to obtain a license to establish the first refinery dedicated to producing high-quality gasoline in the Emirate of Fujairah, during the activities of the ADIPEC 2025 exhibition and conference, in the presence of representatives from the Ministry of Energy and Infrastructure.
Borouge Petroleum and Gas Investments Company is currently in the final stage of closing its merger deal with Gulf Navigation Company, listed on the Dubai Financial Market.
The agreement includes obtaining the basic engineering design and detailed designs for the refinery, which will produce high-quality Euro 5 gasoline in accordance with the latest international standards and specifications.
The project consists of several stages, starting with the first stage with a production capacity of about 15 thousand barrels per day, and it constitutes the first refinery specialized in producing high-quality gasoline in the Emirate of Fujairah, which represents a new strategic step in the UAE’s journey towards strengthening its position as a global center for refining petroleum derivatives.
The project will be implemented using the latest refining and processing technologies from Honeywell, ensuring the highest levels of operational efficiency and environmental sustainability in accordance with international standards.
His Excellency Engineer Sherif Al Olama, Undersecretary of the Ministry of Energy and Infrastructure for Energy and Petroleum Affairs, said: “This agreement represents an important step in supporting the UAE’s journey towards strengthening its industrial capabilities in the refining sector, and ensuring stability of supplies in regional and global energy markets.”
His Excellency added that the new gasoline refinery in the Emirate of Fujairah constitutes a qualitative addition to the national energy system by adopting the latest technologies that ensure the highest standards of efficiency and sustainability.
He said: “At the Ministry of Energy and Infrastructure, we affirm our constant keenness to enable national projects that contribute to achieving the vision of (We are the Emirates 2031) and enhance the role of the private sector in building a diversified and sustainable economic future.”
Borouge Petroleum and Gas Investments Company confirmed that the refinery project in the Emirate of Fujairah will support the directions of the state and the Fujairah government towards developing energy projects, by expanding petroleum industries and enhancing local added value, in addition to providing development and qualification opportunities for national cadres in the fields of refining, operation and maintenance.
The company indicated that the Emirate of Fujairah, with its strategic location, continues to play its pivotal role in supporting energy projects, as a global center for storing and trading oil and its derivatives.
The project is expected to contribute to enhancing energy diversity inside and outside the country, creating quality job opportunities, developing local supply chains, in addition to raising the efficiency of the national refining system, and expanding export capabilities through the Port of Fujairah and other ports in the country.
It is worth noting that Honeywell is a leading global company that has been operating in the Middle East for more than seven decades, and its solutions combine equipment and advanced digital technologies, providing added value to its customers and supporting national development visions and economic diversification efforts in the region.
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