S-OIL, led by CEO Hussain A. Al-Qahtani, has built a second oil loading facility (#2 SPM) at its Ulsan plant and start operation, the compamy said on Nov. 3.
Since 2018, S-Oil has been building a second crude oil loading facility in waters off Ulsan New Port for about two years and seven months.
The second oil loading facility, which was set up on the sea in front of Ulsan's new port, is equipped with an oil tanker mooring facility, a 44-inch diameter submarine (3.7 kilometers) and a land-based (3 kilometers) pipeline.
S-OIL invested about 172 billion won ($152 million) during the design and construction period of about two years and seven months.
An official of S-Oil said, "The single point buoy mooring system (SPM) serves to set up fixed buoys in deep waters so that large crude oil vessels can be docked and send crude oil to land storage tanks through pipelines."
S-Oil had been using the existing #1 SPM, which was installed with the operation of the plant in 1980, but as the amount of crude oil processing increased due to the expansion of the plant, it pushed for the construction of additional buoyancy.
"With the operation of the second oil buoy, we can deal with the weather situation more flexibly, and we can provide stable oil supply even in emergency situations," the official added.
