The Government of Equatorial Guinea has signed an agreement with Nigerian energy firm, Taleveras Group, to build an oil storage hub on the island of Bioko.
“The Bioko Island facility will have a total capacity of 1.34 million tonnes of storage for crude oil and products such as gasoline, naphtha, jet fuel and fuel oil. It will be the largest crude and products storage facility in Africa,” said Taleveras in a statement.
The terminal will be built at Punta Europa, which is located on Bioko Island, and will be able to service the key oil supply and demand centers throughout the region.
In Equatorial Guinea, daily production has risen from less than 5,000 barrels of oil per day in 1992 to over 410,000 barrels per day in 2012, including the production of natural gas in the country.
Taleveras is a growing trading firm that offers a wide range of integrated and strategic solutions in fields such as energy, power, construction, and logistics on a global scale.
SOURCE: Equatorial Guinea’s Press and Information Office