April 20, 2020 [Oiltanking] – Oiltanking MOGS Saldanha (RF) (Pty) Ltd, a joint venture between Oiltanking GmbH, MOGS (Pty) Ltd and Industrial Development Corporation of South Africa Ltd (IDC) is pleased to announce that it has commissioned its new crude oil terminal with the successful receipt of approximately 143,000 cbm (900,000 barrels) of crude oil on April 17, 2020.

The new crude oil terminal in the Port of Saldanha Bay is built as a state-of-the-art facility in accordance with the highest safety and environmental standards. The terminal will be equipped to blend crude oil and be connected to an existing jetty which can handle vessels up to VLCC (Very Large Crude Carrier) size.

The first phase of the terminal comprises nine tanks with a total storage capacity of 1.6 million cbm (9.9 million barrels) which will be brought into operation in phases, with the final phase expected to be completed in the 3^rd quarter of 2020.

Depending on the developments in the crude oil market, the terminal has the potential to be expanded with three further tanks of 175,000 cbm (1.1 million barrels) each for which an investment decision still has to be taken. This possible expansion would bring the total capacity of the terminal to 2.1 million cbm (13.2 million barrels) of storage capacity.

————-