MOGS Oil & Gas is a 50% shareholder in Oiltanking MOGS Saldanha (OTMS), a new large-scale crude oil storage and blending facility located in Saldanha Bay in the Western Cape.
MOGS Oil & Gas and Oiltanking GmbH have partnered to develop a world class, efficient and commercially flexible facility which will consist of twelve 1.1 million-barrel in-ground crude-oil storage tanks.
Oiltanking GmbH is a leading global supplier of storage solutions for oils, petroleum products, chemicals, biofuels and gases. This is South Africa’s first privately-owned facility of its kind not owned by an importer, refiner or owner of crude oil.
The deep-water Port of Saldanha Bay is strategically located on shipping routes between Asia, West Africa and North, Central and South America. Given its location, port capacity and infrastructure – Saldanha Bay has the potential to develop into a major international crude oil storage, blending and transhipment centre. OTMS will enjoy this location and utilise the existing infrastructure (including an existing crude-oil jetty and pipeline) to earn valuable foreign exchange.
All tanks will be inter-linked, allowing for efficient on-site blending of different crude oil API parameters.
The facility will be used by international customers to store, blend and transship crude oil for bulk building and balancing production and offtake as well as blending to meet international market requirements.
OTMS is under construction and is due to be commissioned Q1 of 2019.