Willemstad, Curaçao, July 1st, 2024 – Oryx Group, through its subsidiary Oryx Midstream, has reached an agreement with Refineria di Kòrsou (RdK) to lease and operate the terminal at Bullenbaai and the Emmastad facility in Willemstad for a period of 30 years. With a storage capacity of over 30 million barrels, both Bullenbaal and Emmastad are pivotal for the efficient handling of oil imports and exports in the Caribbean and other regions.
This agreement aligns with Oryx Group's commitment to strengthening its infrastructure and operational capabilities to meet the growing demands of the global oil market.
"We are excited to begin our operations at this key location," said Ghanim M Al Saad, Chairman of Oryx Group. "The Curaçao facility offers unparalleled logistical advantages, and our operation will allow Oryx to position as an efficient and reliable player in the energy industry".
Curaçao’s strategic location as a deepwater port in the Caribbean allows for receiving large trans-ocean tankers (VLCCs and ULCCs), for refueling and distribution purposes. It is ideally located outside the Hurricane weather belt and acts as an ideal crossing point for international trading routes.
The initial phase of the partnership with RdK will focus on the start-up of the facilities. Detailed technical, economic and environmental assessments will be conducted during the first three years to chart the course for the 30-year operational term.
Oryx is dedicated to maintaining the highest standards of environmental and operational safety. The company will work with local stakeholders, including the Government, to invest over US$70m in the next 5 years to ensure that the facilities meet international and local safety and environmental regulations, in addition to boosting the local economy through job creation and retraining of employees.
Oryx is expected to inherit an initial employee cost base of US$12m. As an Equal Opportunities Employer, the company will work with RdK and its subsidiary CRU to train existing, retain, and recruit necessary personnel across both locations. Vendors and contractors are equally requested to affirm their commitment to Oryx’s affirmative Equal Opportunities Program.
About Oryx Group
Oryx Group is an integrated company specialized in energy sector infrastructures, from wellhead to exports chain. Founded in 2021, Oryx is looking to develop a strong presence globally through its subsidiaries and strategic partners. The company includes offices in Hong Kong, Curaçao, and Barbados, among others. Oryx is growing its footprint by targeting key assets and effectively investing in multiple regions, ensuring a continuous and secure flow of energy resources.
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