Surging oil trade in the Asia-Pacific region is spawning a number of big petroleum storage projects there.
Among the biggest are those in Indonesia and Singapore.
INDONESIA PROJECT
A group led by Singapore's Sembawang Group plans to build a $272 million (Singapore) oil storage terminal on Karimun Island in Riau province, Indonesia.
Other participants include Kuo International, Hong Kong, and likely companies from Japan, Europe, and the U.S. According to press reports from Jakarta and Singapore, Van Ommeren Terminals of Netherlands was also reportedly involved in negotiations on the project. A joint venture agreement was expected to be signed by the third quarter.
Plans call for building a terminal with a capacity of 1.5 million cu m on the island, where Sembawang has a 100 year lease. Ultimately, Sembawang and Indonesian company Bangun Cipta want to develop the site as an industrial city with petrochemical plants, engineering and manufacturing industries, and shipyards.
Sembawang Project engineering recently completed a feasibility study of the Karimun storage project.
SINGAPORE PROJECTS
Oiltanking Singapore Ltd., a unit of Oiltanking GmbH, Hamburg, has completed the third phase of its petroleum products terminal on the island of Pulau Setaya, Singapore.
The project started up 2 months ahead of schedule July 1 and involved a 120,000 cu m expansion, bringing Oiltanking's total products storage capacity on the island to 527,500 cu m. Included in the project was construction of two deepwater jetties capable of handling vessels as large as 133,000 dwt and three jetties for shallow water tankers and barges.
The terminal, equipped to store, handle, and blend petroleum products, has been in operation since July 1990. completion of the third phase brings Oiltanking's investment in Singapore to about $93.8 million (U.S.)
Oiltanking is studying plans for a fourth phase to add a further 60,000 cu m at a cost of $11.25 million (U.S.), with work to get underway near yearend 1993.
Oiltanking's move comes soon after Van Ommeren disclosed it will spend $37.5 million (U.S.) to build a chemical storage terminal on Pulau Sakra island, bringing its total investment in Singapore to $162.5 million (U.S.) Van Ommeren currently operates an 800,000 cu m chemical storage site on Pulau Sebarok.
Tankstore, a joint venture of Dutch company Paktank International, Chicago Bridge & Iron, and GATX Terminals, operates a 600,000 cu m storage unit on the Singapore island of Pulau Busing.
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