Petroleum Africa
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Wednesday, May 24, 2017
The Bioko Oil Terminal (BOT) project in Equatorial Guinea has garnered interest from Nigeria’s Oranto Petroleum. The Nigerian firm submitted its interest in investing in a crude oil and petroleum products storage facility at the terminal.
Equatorial Guinea’s Ministry of Mines and Hydrocarbons said in a statement that it believes the BOT project will be a “revolutionary” regional development, bringing new efficiencies to western Africa’s petroleum industry and positioning a world-class facility between the North Atlantic, West and Central African, and Asian markets.
“This is a truly revolutionary project and we expect to attract a lot more interest in the months to come,” said Gabriel MbagaObiang Lima, Minister of Mines and Hydrocarbons of Equatorial Guinea. “Our country, with the help of partners like Oranto Petroleum and Arabia Energy, will become an international center for crude oil and petroleum products trading, transforming the oil and gas industry here in Equatorial Guinea and across Africa.”
Prince Arthur Eze, chairman of Oranto, said: “We’ve expressed our serious intent to join the BOT project and build on an already strong partnership with the Government of Equatorial Guinea. This is an opportunity to be a founding partner, an investor and a client of a project that will bring jobs, growth and global attention to Africa’s west coast oil sector.”
With 22 storage tanks and a total capacity of 1.2 million cubic meters, Bioko Oil Terminal will be built in two phases, the first consisting of refined production and the second capable of storing, handling and blending middle distillates and lights ends such as diesel, jet fuel, gasoline and naphtha, as well as crude oil. The shared terminal infrastructure will be operated on a “first come, first served” basis.
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