Vopak-led consortium to operate Singapore oil caverns

JTC, the Singapore government body that develops and promotes industrial facilities has awarded operatorship of the Jurong Rock Caverns to Banyan Caverns Storage Services, a joint venture of Vopak (45%), engineering company Geostock (35%) and local company Jurong Consultants (20%). Reportedly Southeast Asia’s first underground hydrocarbon storage facility, the Jurong Rock Caverns will have a storage capacity of 1.47mn cm in the first phase of development, according to Platts.

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