Nigerian energy firm, Taleveras Group that supplies crude oil and refined petroleum products in West Africa, disclosed that it had signed an agreement with The Ministry of Mines, Industry and Energy of Equatorial Guinea, in Malabo to construct Africa’s biggest oil storage terminal in the country.
The Bioko Oil Terminal is expected to possess a total storage capacity of 1.2 million cubic meters for refined products and crude in the first two phases.
Taleveras said in a statement that the terminal will be built at Punta Europa, which is located on the Bioko Island part of Equatorial Guinea, and will therefore be ideally located to service the key oil supply and demand centres throughout West Africa.
It said the oil terminal was positioned to provide universal partners with world-class facilities and would be developed in phases.
According to statement, 680,000 cubic meters of refined products storage capacity will make the first phase and the primary purpose of the oil terminal will be to supply international trade of gasoline, diesel, naphtha, fuel oil, and jet fuel. The ensuing phases are to include crude oil storage.
Taleveras disclosed that the EPC contractors had been selected. The next steps for the Bioko Oil Terminals is to conclude and sign the FEED contract in the early 2015, as well as selecting the consortium to build, own and operate the terminal.