Byco’s Single Point Mooring (SPM) proving to be an asset for Pakistan

Karachi, November 21, 2013: Byco Terminals Pakistan Limited is now successfully operating the country’s first and only offshore oil unloading and loading facility. Set up with a foreign investment of US$ 90 million, the Single Point Mooring (SPM) is a floating terminal, 10.5 kilometers out in the Arabian Sea. The SPM can be used for both the import and export of petroleum products and has a pumping capacity of more than 2000 tons per hour.

Byco’s SPM has effectively become the third port of entry for crude oil into the country. Itis proving to be an asset for Pakistan by reducing pressure on Karachi Port and FOTCO at Bin Qasim, and thus facilitating other crude oil shipments to be received conveniently. Further, the SPM eliminates the occurrence of demurrage and thus provides significant logistics cost saving.

“Our SPM has been classified by Bureau Veritas, France and what it is effectively doing is allowing crude oil to be brought in without putting pressure on Karachi Port and Port Qasim, and thus facilitating the Oil Companies Advisory Committee (OCAC) in their crude oil vessels scheduling matters,” said Amir Abbassciy, Group Chairman &CEO, Byco Industries Incorporated.

The single largest parcel of crude oil ever brought into Pakistan, was handled by the Byco SPM recently, when oil tanker M.T. Quetta brought 79,000 metric tons of crude oil from the UAE. Byco informs the Oil Companies Advisory Committee (OCAC) and the Ministry of Petroleum & Natural Resources of its oil import volumes at the end of each month, thus helping the Ministry proactively schedule the next month’s crude oil imports and keep Pakistan’s demand fulfilled timely.

The Byco SPM is an all-weather facility that has night navigation facility and is based on Catenary Anchor Leg Mooring (“CALM”) system – the type of mooring that is most commonly used around the globe. Compared to fixed mooring systems, CALMs can moor tankers at much higher environmental thresholds so that the mooring downtime is much less.

About Byco Terminals Pakistan Limited

Byco Terminals Pakistan is an infrastructure company setup to facilitate the logistics of petroleum products. Byco Terminals Pakistan is a wholly owned subsidiary of Byco Petroleum Pakistan Limited (BPPL).