Tuesday, May 16, 2017

Equatorial Guinea Bioko Oil Terminal Set to Transform Country as Energy Hub

The Republic of Equatorial Guinea Bioko Oil Terminal is set to transform the country’s energy production sector and establish the country as a trading hub for all of West Africa.

The Government of Equatorial Guinea recently signed an agreement with Arabian Energy DMCC to collaborate on the petroleum tank development, implementation, construction, and financing.

The Bioko Oil Terminal is a $500 million project that will serve as the first of its kind storage facility for West Africa.

The Terminal will drive job creation, reduce imports, increase investment, build local capacity, and increase shipments to key export markets from Equatorial Guinea.

The Terminal will consist of 22 storage tanks and will have a total capacity of 1.2 million cubic meters.