Borouge, for Petroleum and Gas Investment, has announced launching a project to establish an oilfield to produce ships' fuel with a capacity of 250,000 barrels per daily in Fujairah at the eastern shore of UAE.
Nicolas Bardinkoper, chief executive officer of Borouge, said that the project will start producing fuel soon, in which the first phase is anticipated to be completed in the first quarter of 2020.
According to Emirates News Agency (WAM), Bardinkoper added that this vital project would contribute to reinforcing the developing position of Fujairah in oil and gas trade and fulfilling the growing demand on ships' fuel that is also identical to IMO-2020 specifications.
He added that the firm seeks to boost its contribution in the development of oil and gas sector in UAE through more investments in addition to meeting the needs of the market, and the growing demand locally and internally.
Bardinkoper continued that inaugurating the oilfield falls under the expansion plans of the company, affirming that it aims to raise the confidence of shareholders and investors in these plans.
