WILLEMSTAD - Curacao Oil Refinery Utilty BV (CRU) has signed a tank storage agreement today September 15th for the storage of Crude oil and oil products at the Bullenbaai terminal. With this agreement CRU revitalizes the operation of the Bullenbaai oil storage facilities. Our own staff and management put a lot of effort to be in a position to offer the facilities to all customers around the world which are interested in oil storage capacity. In this new services agreement the first company that reached an agreement with CRU is SPS Drilling E&P.

SPS Drilling E&P has main offices in Houston USA and other offices in London, and is a global company with a proven track record in the oil industry, petrochemical industry and mining. The company offers effective and practical solutions for the needs in the global market.

Project Managament Organization (PMO) is a group of local experts who have been guiding this process of finding customers for the Bullenbaai storage facilities through a process that is transparent and effcient. SPS Drilling E&P together with other interested parties participated in a competitive bidding process by RDK and this resulted finally in an agreement for storage of oil and oil products awaiting arrangements to be made when a long-term operator for the refinery has been found.

During the last 4 months CRU and its staff worked continuously to make storage tanks available a process in which RDK invested over 5 million guilders to have these tanks available for storage. With this investment  RDK  has made available a total of 5.8 million barrels of storage for commercialization to third parties.

Revenues generated by CRU and RDK through the commercialization of storage will be used to continue upgrading the tank park, excecute CRU maintenance program and cover the operating cost of the personnel at CRU.

David Haseth as the CEO of CRU made the following statement: “we are glad that we achieved with the efforts of all this important milestone to continue with the terminal services at Bullenbaai as was the case in the recent past. Our employees are looking forward to soon receive the first tankers here at Bullenbaai bringing oil and oil products”.