Beginning of final engineering designs for the first refinery dedicated to producing high-quality gasoline in Fujairah
Fujairah, December 3, 2017 – Gulf Navigation Company, listed on the Dubai Financial Market, announced that its subsidiary, Buroj Petroleum and Gas Investments, has signed an agreement with PEG to prepare detailed engineering designs for the naphtha development project to produce gasoline with Euro 5 standards in the Emirate of Fujairah.
The project represents a new strategic station that strengthens the UAE’s position as a leading global center in the refining and oil derivatives trading sector. The first phase, with an estimated capacity of 15 thousand barrels per day, represents the launch of a specialized refining facility that adopts advanced technologies to raise the efficiency of naphtha processing and produce gasoline with Euro 5 standards, in line with regional and international demands for high-quality products.
Engineer Saif Al Hazaima, CEO of Borouge Petroleum and Gas Investments, said: “This agreement comes as a pivotal step in supporting Borouge’s transition to a new phase of growth by entering the field of specialized refining, which enhances the company’s business model and expands its presence in the hydrocarbon value chain. The project also confirms the UAE’s growing role as a regional leader in the energy sector, and reflects our commitment to developing highly efficient and quality refining facilities. The new gasoline refinery in the Emirate of Fujairah constitutes a qualitative addition to the national system. “for energy.”
Borouge Petroleum and Gas Investments, a subsidiary of the Gulf Navigation Company, confirmed that the refinery in the Emirate of Fujairah will support the state’s efforts to expand petroleum industries and enhance local added value, in addition to providing development opportunities for national cadres in the fields of refining, operation and maintenance.
The company indicated that one of its main goals is to enhance long-term value for shareholders, while at the same time providing the best energy infrastructure solutions to its customers, through practical projects that respond to the continuous growth in demand and ensure operating efficiency.
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