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.
Bioko Oil Terminal Overview
Location: Bioko Island, located 32 km off-shore the West coast of Central Africa is an island of Equatorial Guinea.
The Bioko Oil Terminal will be a large oil and petroleum products storage facility, and its development is spearheaded by the Ministry of Mines, Industry and Energy of Equatorial Guinea. Through the project, the Government aims to establish Equatorial Guinea as the premier storage location in West and Central Africa, and a major transit point for global oil and gas deliveries.