In his address to the France—Fujairah Forum, Sohail Iqbal, the municipality’s chief engineer, gave an update on the Fujairah Oil Industry Zone (FOIZ).
Here are his main points:
Establishment
His Highness, Sheikh Hamad bin Mohammed Al Sharqi, Supreme Council Member and Ruler of Fujairah, promulgated the establishment of the Fujairah Oil Industry Zone (FOIZ) through an Emiri Decree—Law #4 of 2011 on 29 March 2011.
Purpose
The FOIZ was set up for these purposes:
+ Developing the petroleum strategy for investment in the region.
+ Regulating all petroleum and hydro-carbon industries including oil and gas industries.
+ Providing infrastructure to companies.
+ Providing administrative services to investors.
Development Plans
+ The current development aims to be completed by the end of 2014.
+ Presently there are 136 tanks with a storage capacity of three million cubic metres.
+ At completion, there will be 262 tanks with a capacity of seven million cubic metres for the storage and export of crude oil and petroleum products.
Vital Statistics
+ 2011 storage capacity: 3,106,504 cubic metres.
+ 2013-2014 storage capacity: 7,889,404 cubic metres.
+ 2016-2017 storage capacity: 10,856,804 cubic metres.
Other Major Fujairah Projects
The Developments at the Fujairah Port—Latest News, FIF, 8 October 2011.
Strategic Grain Terminal in Fujairah—Latest News, FIF, 6 October 2011.
Sheikh Khalifa Bin Zayed Highway Between Dubai and Fujairah-Latest News, FIF, 5 October 2011.
France—Fujairah Forum
Several articles have been posted on this France-Fujairah business forum, held in Fujairah on 29 September 2011. Go to this article and follow the links that it includes.
Geoff Pound
More Fujairah news, information, photos and videos are posted on the Fujairah in Focus Facebook Page.
Images: The photo is drawn from Sohail Iqbal’s Powerpoint Presentation and is used with thanks.
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