Byco’s SPM handles 5MT crude in 4 years

KARACHI: Byco Petroleum Pakistan Limited’s (BPPL) deep sea Single Point Mooring (SPM) facility, which is the only floating terminal in the country, has imported five million tons of crude oil since its inception in 2012, a statement said on Tuesday. 

“Byco’s SPM is a national asset for Pakistan,” said Amir Abbassciy, CEO BPPL, while commenting on this landmark achievement. “I want to congratulate the entire Byco team on this singular achievement.” 

Abbassciy said the SPM’s continuous safe operation was a testament to Byco’s promise of keeping safety a top priority. “It has revolutionised the handling crude oil and refined petroleum products in the country,” he said.   The SPM has been set up in the deep sea and is connected to a storage tank via 15 kilometers long, both on-shore and sub-sea, pipelines. Byco has a storage capacity of 140,000 metric tons.  

The SPM allows Byco to import and export crude oil and refined petroleum products directly, significantly reducing traffic at Pakistan’s ports situated in Karachi and Port Qasim. It enables Byco to be the only vertically integrated petroleum firm in the nation. 

Byco expects to import 4.5 million tons of crude oil through the SPM in the current fiscal year ending 30 June 2018.  The company has been in continuous operation since 2012 including the severe monsoon season from June through September, which was previously considered impossible for the area.