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E&P worldwide
Oil Stockpiling Projects & Improvement of Petroleum Distribution Structure
Oil Stockpiling Projects
Improvement of Petroleum Distribution Structure
- The north east asia oil hub
- Purpose of project and expected outcomes
- Storage tank terminal construction project
Construction Projects
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home > Operations > Oil Stockpiling Projects & Improvement of Petroleum Distribution Structure > Storage tank terminal construction project
Storage tank terminal construction project
 

Yeosu Project

Oilhub Korea Yeosu Co. (OKYC) was established in November, 2008. The joint venture finished construction of the 8.2 million barrel storage facility by the end of 2012 and Yeosu terminal started commercial operations in April 2013.
History
  • Sept. 2007 Signed the MOU for the Yeosu Project
  • Sept. 2008 Joint Venture Agreement
  • Nov. 2008 Established OKYC, the Joint Venture company
  • Jan. 2009-Nov. 2011 Basic engineering and government permission
  • Feb. 2011-Dec.2012 Storage facility construction
  • Mar. 2013 Started commercial operation
Outline of the Project

(As of September, 2016)

Outline of the Project
JV Partners
  • JV Company: Oilhub Korea Yeosu Co, Ltd.
  • - KNOC (29%), China Aviation Oil Trading (26%), SK Incheon Petrochem (11%), GS-Caltex (11%), Samsung C&T (10%), Seoul Line Service (8%), LG International (5%)
Site KNOC Yeosu stockpile site (261,540㎡), near to the second largest petroleum energy and refinery cluster in Korea
Capacity
  • 8.2 million barrels (36 tanks, crude 3.5 mmboe , product 4.7mmboe)
  • Jetty : 4ea (200K, 120K, 80K,10K DWT)

yeosu image

Department Contacts Updated
Updated : 2016-09-30 Department : Petroleum Marketing Dept. Contacts : +82)52-216-5122

Ulsan Project

The Ulsan Oil Hub project is intended to build a commercial tank terminal with a capacity of 28.4 million barrels in Ulsan, the largest port for petroleum and chemical logistics in Korea. It is being pursued in two phases. The first phase(north port) is underway, and tank storage facilities will be designed in detail and constructed along the land reclamation schedule. The second phase(south port) will be executed with establishing a detailed plan reflecting KDI's preliminary feasibility study result.
History
  • Feb. 2008 Selected as a national project and included in the national energy blueprint
  • Feb.-Oct. 2009 Preliminary feasibility study by Korea Development Institute (KDI)
  • Jan.-Dec. 2010 Feasibility study by KDI
  • July. 2011 Incorporate the Ulsan North & South Port project into the Master Port Plan
  • Mar. 2013 Started commercial operation of Yeosu project
  • 2013 Selected as a national project of current government
  • Feb. 2014 Established Korea Oil Terminal Co., Ltd. for the North Port project
  • Dec. 2014-May 2015 Established a basic plan for the South Port project
  • Jul.2013-Apr.2015 FEED of the North Port tank terminal
  • Aug.2015~June.2017 Preliminary feasibility study on the South Port by KDI
Outline of the Project
Outline of the Project
Area 684,000㎡(North Port 302,000㎡, South Port 382,000㎡)
Capacity
  • 24.1mmb(8.1mmb for North Port, 16.0mmb for South Port)
  • Jetty: North 6ea(max 120k DWT), South 2ea(max 200k DWT)
Period
  • North Port project
    - Detail design & Terminal construction: Q1.2018~Q2.2021
  • South Port Project : 2019~2026
    * executed with establishing a detailed plan reflecting KDI's preliminary feasibility study result.
Future plan
  • The South Port project will be pursued in coordination with the North Port
    - 2018~2021 and construction of the North Port tank terminal
    - 2019~2026 Design and construction of the South Port tank terminal
  • KNOC and UPA will jointly pursue the project for work efficiency, faster procedures and cost-savings.
  • JVC, in which KNOC participates, will construct commercial storage facilities and UPA is in charge of land reclamation
    Aug. 2013 : Completion of detail design.
    Nov.2013~June.2017 : Land reclamation
  • * Aug. 2013: North Port design and groundwork Nov. 2013-Oct. 2016: Construction of North Port
Site Ulsan New Port
- Central location among China and Japan and very close to the refinery cluster.
(SK Energy & S-Oil) within 3Km from oil hub North & South place.

ulsan image

Department Contacts Updated
Updated : 2017-06-30 Department : Oil Hub Projet Contacts : +82)52-216-5423

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