UAE | General

Star Energy Resources in pact with Oiltanking

Star Energy Resources Ltd, owned by Abu Dhabi-based Star Energy Corp, has entered into an agreement with Germany's Oiltanking GmbH to jointly develop new business opportunities in the field of bulk liquid storage and terminal facilities in the six GCC states, Iran, Iraq, Yemen, Libya, Egypt, Jordan, Syria and Lebanon.

  • By A Staff Reporter
  • Published: 00:00 April 22, 2002
  • Gulf News

Star Energy Resources Ltd, owned by Abu Dhabi-based Star Energy Corp, has entered into an agreement with Germany's Oiltanking GmbH to jointly develop new business opportunities in the field of bulk liquid storage and terminal facilities in the six GCC states, Iran, Iraq, Yemen, Libya, Egypt, Jordan, Syria and Lebanon.

"The cooperation between the two companies will build on the strengths of Oiltanking as the world's second largest independent storage provider in the petroleum and petrochemical sector and Star Energy Resources with its existing business infrastructure in the Middle East and its terminal in Jebel Ali," Star Energy Corp said yesterday.

Investments will follow once projects are identified. "A number of projects are being examined in the different countries identified. We have just signed the agreement and plans have to be formed," a company official said. No other details were provided.

Star Energy owns and manages a terminal in Dubai's Jebel Ali Free Zone, which has a capacity of 620,000 cubic metres of petroleum products.

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