Byco Petroleum Pakistan Limited’s successful commission of single point mooring by Byco Terminals Pakistan Limited, a wholly owned subsidiary of Byco Petroleum Pakistan Limited

Karachi, January 03, 2012 (PPI-OT): We are pleased to inform you that Byco Terminals Pakistan Limited, a wholly owned subsidiary of Byco Petroleum Pakistan Limited (BYCO), has successfully commissioned Pakistan’s first Single Point Mooring (“SPM”) facility in the Arabian Sea at a distance of about 14 kilometres from Byco’s Refineries in Hub, Balochistan, which SPM is owned by Byco Terminals Pakistan Limited.

The SPM is Pakistan’s third oil import port and will provide significant cost savings and efficiencies to the Group. With a draft of 25 meters, this facility can accommodate larger vessels of up to 100,000 tons thus achieving economies of scale. The discharge rate compares favourably to that at other ports, resulting in savings on port charges and sailing time. The freight cost would also be substantially reduced as the SPM is approximately 100 nautical miles closer to the Arabian Gulf than FOTCO (Port Qasim).

In a landmark first of its kind operation in Pakistan, crude oil tanker M.T. Arietis has recently completed the discharge of around 70,000 tons of crude oil at the SPM successfully.

The above information may be circulated to your members accordingly.

For more information, contact:
Shahana Ahmed Ali
Group Head Legal and Company Secretary
Byco Petroleum Pakistan Limited
The Harbour Front, 9th Floor,
Dolmen City, HC – 3, Block – 4,
Marine Drive, Clifton, Karachi – 75600, Pakistan
UAN: (92 21) 111 222 081
Fax: (92 21) 111 888 081
Web: www.byco.com.pk

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