Rome

Aqaba oil terminal to find new life with EPC agreement

Project to maximize capacity and efficiency

Aqaba oil terminal to find new life with EPC agreement

Rome, March 28 - An engineering, procurement and construction (EPC) agreement signed on Thursday between Jordan's Aqaba Development Corporation (ADC) and Turkish company BETA Inc. is set to start work on revamping Aqaba's oil terminal, supplying over 90% of Jordan's crude oil and petroleum products. According to the agreement, BETA will install and upgrade oil-pump capacity, renew the existing loading arms and implement new ones to handle crude oil, petroleum products, various chemical liquids and liquid petroleum gas (LPG). In addition, the project foresees the enhancement of safety measures and will enable night operations. The oil terminal will remain operational during the project execution to avoid any oil-supply shortages to Jordan and will be managed by ADC, the operational arm of the liberalized duty-free area known as ASEZA (Aqaba Special Economic Zone) where the terminal is located. "This agreement came after intensive studies and planning due to the priority and critical importance of the Aqaba Oil Terminal to the economy of the Hashemite Kingdom of Jordan, and due to the Kingdom's crucial need for multiple energy sources," Professor Dr. Kamel Mahadin, Chief Commissioner of ASEZA, said. "The implementation of the project will be according to the best international practice of safety and environmental standards," Mahadin added. Jordan's ADC will manage and supervise the project to assure the work flow complies with international standards. "The signing of this $28 million agreement is part of ADC's strategic plans in cooperation with ASEZA to rehabilitate and construct an integrated port community with 28 terminals - a core part of Aqaba's development," His Excellency Ghassan A. Ghanem, ADC CEO told ANSA.

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