Baghdad (IraqiNews.com) – An agreement was struck between the SAFEEN Group of AD Ports Group (ADPORTS) and the Amaan Baghdad Company to support a new project involving the transportation and storage of fuel oil from Iraq’s Khor Al Zubair and Umm Qasr oil terminals.

According to the conditions of the contract, SAFEEN Feeders, a SAFEEN Group subsidiary, will oversee the whole project and provide three Very Large Crude Carriers (VLCCs) and one Medium Range (MR) tanker.

SAFEEN Feeders will use the MR tanker to transfer fuel oil from terminals in the Port of Khor Al Zubair and Umm Qasr South Port to Iraqi territorial waters in collaboration with Amaan Baghdad Company. The fuel oil will then be moved to and stored aboard the VLCCs, which will act as floating fuel tanks with a 750,000 tonne per month supply capacity.

“We are pleased to complete this new agreement to support a major fuel oil transport and storage project in Iraq. The energy sector is an important growth market for SAFEEN Group, and this project demonstrates our expertise in this area as well as the extent and sophistication of our fleet,” said Captain Ammar Mubarak Al Shaiba, Acting CEO of the Maritime Cluster and SAFEEN Group, AD Ports Group.

“We have selected SAFEEN Group based on its comprehensive suite of world-class marine services and the expertise of the dedicated team who will manage this project. The global fuel oil market has been volatile in 2022, and this additional storage capacity will support Iraq’s competitive offering,” said Fadie Fouad, CEO Amaan Baghdad Company.

SAFEEN Feeders also supports a weekly container service that links Iraq with international markets in addition to this new deal. The Emirati company plants to continue looking for ways to promote the expansion and diversification of marine trade for Iraq.

“This agreement underlines our capacity to tailor solutions to the specific needs of companies in the oil and gas industry and marks an important extension of our presence in Iraq,” added Al Shaiba.