Byco Petroleum Single Point Mooring (SPM) facility has imported 5 million tons of crude oil in the country since its launch.
Byco Petroleum setup the SPM facility in Pakistan in 2012, since then the facility is continuously in operation and has facilitated crude oil import in the country without disruption. The SPM facility was considered impossible for the area but Byco has proved it wrong and successfully operated SPM for the last five years.
Single Point Mooring (SPM) basically reduces the freight costs and increases oil mobility from one place to another. Undersea water large vessels are connected to various floating terminals to transport the oil and keep the supply uninterrupted due to weather conditions.
According to Byco, they have the only floating terminal facility in Pakistan which revolutionizes the handling of crude oil and refined petroleum products in the country. The SPM facility has been set up deep in the sea waters and it is connected to a storage tank through 15 kilometers long of both on-shore and sub-sea pipeline. Byco says they have a storage tank with the capacity of storing 140,000 metric tons of crude oil and other petroleum products.
“Byco’s SPM facility is truly a national asset for Pakistan. Its safe operations show or commitment to keeping safety at top priority. I would like to congratulate the whole Byco team on this achievement of importing 5 million tons of crude oil since its inception flawlessly.” Said Amir Abbasi, CEO of Byco Petroleum Pakistan Limited in a press release.
Byco petroleum is now able to transport crude oil and other petroleum products in and out the country directly which significantly reduces the traffic at seaports located in Karachi and Port Qasim. With this facility, Byco is now classed as the only vertically integrated Petroleum Company in the country. Byco is expecting to import 4.5 million tons of crude oil using SPM in the current financial year ending June 20, 2018.