WILLEMSTAD - Refineria di Kòrsou (RdK) has signed a landmark lease agreement with Oryx Midstream Private Ltd (Oryx Midstream) to manage and operate the Emmastad facility and Bullenbaai terminal in Curaçao.  The 30-year agreement was signed by Mr. Patrick Newton, CEO, on behalf of RdK, and Mr. Ghanim M. Al Saad on behalf of Oryx Midstream, while the Prime Minister of Curaçao Mr. Gilmar Pisas served as a witness to this deed. 

Oryx Midstream is poised to bring substantial investment to Latin America and the region. With extensive experience in energy acquisitions across the oil and gas sectors (upstream, midstream, and downstream), as well as renewables, Oryx Group is a strategic player in major crude markets globally. 

The selection of Oryx Midstream concludes a comprehensive process initiated by RdK in June of the previous year, which began with a call for expressions of interest. Out of 19 respondents, seven were shortlisted in August based on their submitted information. Following thorough evaluations, Oryx Midstream emerged as the preferred partner. An initial Memorandum of Understanding (MoU) was signed, allowing both parties to conduct detailed due diligence and technical inspections. This MoU laid the groundwork for the recent successful negotiation of the long-term lease agreement. 

The initial phase of this partnership will focus on the safe and economically prudent startup of the facilities. Detailed technical, economic, and environmental assessments will be conducted to chart the course for the operational term. The first three years will see the phased startup of various processes and comprehensive assessments, setting the stage for the detailed 30-year operational plan. 

Both parties are now working towards meeting preconditions before the agreement takes effect on December 1, 2024.