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our correspondent
Thursday, December 27, 2012
From Print Edition
 
 

 

KARACHI: Byco has achieved yet another historic milestone by bringing the first-ever oil tanker of 70,000 metric tons to its newly-established deep sea single point mooring facility constructed by Byco Terminal Pakistan Ltd, a Byco group company, according to a statement on Wednesday.

 

Byco’s crude oil tanker M T Arietis, carrying 70,000 tons upper zakum crude oil from Abu Dhabi was berthed at the first-ever single point mooring on Tuesday.

 

This marks the commissioning of the third port, which will be used for import of crude oil and petroleum-related products, it said. With a clear draft of 25 metres, this facility can accommodate larger size vessels, carrying crude / petroleum products in cargo sizes of over 100,000 tons, it said.

 

The full operation of single point mooring will cause to create adequate availability of other oil piers leading to reduced waiting time and consequential demurrage.

 

In the initial stages, the single point mooring would be used to import crude oil for Byco’s newly-completed 120,000bpd and the existing fully operative smaller refinery of 35,000bpd, according to the statement.

 

The single point mooring has been set up on the coast of the Arabian Sea at a distance of approximately 14km from the Byco’s Mouza Kund site and is approximately 10km from the sea shore at 25 metres depth. It is connected to the storage tanks through 28-inch diameter offshore and onshore pipeline, it said.

 

Imran Farookhi, chief executive officer of Byco Terminals Pakistan Limited, the company that owns and operates the single point mooring, said: “The arrival of M T Arietis marks the end of one journey and the beginning of a new one.

 

With the blessings of the Almighty Allah, we have conquered all obstacles and are ready to meet the needs of Pakistan’s growing oil requirements.”

 

Presently, the petroleum products are being imported through Karachi and Bin Qasim ports and these ports have a draft limitation and as such cannot accommodate larger ships.

 

The single point mooring facility with a draft of 25 metres will allow mooring of larger crude carriers, which will not only result in lower administrative cost but will also bring in substantial savings on account of difference in the freight charges, thus, giving single point mooring facility a strategic advantage, he added.