JTC Corporation has appointed the Royal Vopak-Jurong Consultants consortium as operator of the Jurong Rock Caverns, Singapore's first underground petroleum and petrochemical storage facility, local newspaper The Business Times reported Wednesday.
JTC provided no confirmation of details in the BT report when contacted by Rigzone.
“We can’t comment … we will be preparing an announcement,” a JTC official told Rigzone.
Jurong Consultants had broached the idea of a joint bid with Vopak to operate the Jurong Rock Caverns as the Singapore-based engineering firm wanted to expand its services beyond design-and-build to operatorship of such facilities, BT said.
New York-based Parsons Brinckerhoff and Germany’s Oiltanking were believed to be interested in becoming operator for phase one of the $702 million (SGD 890 million) Jurong Rock Caverns project, the newspaper added.
The appointment of the facility operator, which will be given a 15-year contract, was originally planned for mid-2013.
Jurong Aromatics Corporation (JAC), which plans to start up its $2.4 billion aromatics complex on Singapore's Jurong Island in the second quarter of 2014, will be Jurong Rock Caverns’ first customer.
Phase one of the project, which is targeted for completion by 2014, will create 51.91 million cubic feet (1.47 million cubic meters) of storage capacity for oil, including crude oil, condensates and naphtha.
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