ADNOC plans oil storage in Fujairah
Abu Dhabi National Oil Company plans to build in Fujairah what it calls “the world’s largest single underground project ever awarded for oil storage.”
It let an engineering, procurement, and construction contract to SK Engineering & Construction Company Ltd, Seoul, for three underground storage caverns with capacities of 14 million bbl each.
ADNOC said the US$1.21-billion contract is “the largest for a single project award for underground crude oil storage in the world.”
Completion is due in 2022.
Source: Oil & Gas Journal