Pioneer: Byco operating offshore oil facility

KARACHI: Byco Terminals Pakistan Limited is now successfully operating the country’s first and only offshore oil unloading and loading facility. Constructed with a foreign investment of $90 million, the Single Point Mooring (SPM) is a floating terminal, 10.5 kilometers out in the Arabian Sea. The SPM can be used for both import and export of petroleum products and has a pumping capacity of more than 2000 tons per hour. This port has become the third port of entry for crude oil into the country. It is shaping to be one of the country’s most valuable asset, as it reduces the pressure on Karachi port and the Fauji oil terminal and distribution company, therefore facilitating other crude oil shipments to be received conveniently. Furthermore, the SPM eliminates the occurrence of demurrage and provides significant logistics cost saving.

Published in The Express Tribune, November 21^st, 2013.

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