Singapore-based Audex has been awarded a contract to expand an oil storage terminal operated by Vopak Horizon Fujairah in the UAE, according to a source close to the bidding process.
The engineering, procurement and construction (EPC) contract, worth about $100m, will see Audex carry out phase 7 of Vopak Horizons expansion in the eastern emirate of Fujairah.
The EPC work, which was awarded at the start of May, is expected to be completed in the second quarter of 2016.
The expansion will add 478,000 cubic metres of crude oil storage capacity to the terminal, bringing the total capacity to 2.6 million cubic metres.
Phase 7s scope incudes five storage tanks, one manifold and a pipe connection to the Port of Fujairahs new very large crude carrier (VLCC) jetty, along with associated facilities.
The crude oil storage tanks will be the first in the Middle East for independent storage purposes, according to Vopak Horizon.
Vopak Horizon originally tendered the contract in the second quarter of 2012 and received bids from at least eight contractors the following August. However, the award was delayed by more than a year after bids were received, with a reported revision to the projects scope.
Vopak Horizon Fujairah is a joint venture between Netherlands-based Royal Vopak, the UAEs Horizon Terminals, the government of Fujairah and Kuwaits Independent Petroleum Group.