BROOGE HOLDINGS ANNOUNCES NOTIFICATION OF ADDITIONAL END USERS AND INTEREST OF CURRENT CUSTOMER IN PHASE III OFFTAKE
18 Febrero 2020 - 8:15AM
Brooge Holdings Limited (“Brooge Holdings”) (NASDAQ: BROG) and its
wholly-owned subsidiary Brooge Petroleum and Gas Investment Company
FZE (“BPGIC”), a Fujairah Free Zone Entity in the oil storage and
services business announced today that BPGIC received notification
from its Phase I offtake customer, Al Brooge International Advisory
LLC (“BIA”), that strong demand for oil storage and product
handling in the port of Fujairah resulted in a number of attractive
oil storage and product handling requests from new international
end users that, after completing proper due diligence, BIA
accepted. As a result, BIA began providing oil storage and handling
services in prior periods to a broader base of end users and
established a successful track record with the same. BIA informed
BPGIC that it expects to continue adding additional end users in
the future, and reconfirmed its commitment to maintain its
performance under its current contract with BPGIC.
In addition, BIA stated that, in light of strong
interest from its end users in the planned Phase III facilities, it
is interested in entering an initial agreement with BPGIC to
negotiate an offtake contract for the planned Phase III facilities
similar to the parties existing offtake contracts for the Phase I
and II facilities.
About Brooge Holdings
Limited
Brooge Holdings Limited is an exempted company
incorporated under the laws of the Cayman Islands. Brooge Holding’s
subsidiary Brooge Petroleum and Gas Investment Company FZE
(“BPGIC”) is an oil storage and service provider strategically
located in the Port of Fujairah in the Emirate of Fujairah in the
UAE. BPGIC’s vision is to develop an oil storage business that
differentiates itself from competitors by providing its customers
with fast order processing times, excellent customer service and
high accuracy blending services with low oil losses.
Contacts
Nicolaas Paardenkooper, Chief Executive
Officer
Brooge Holdings Limited
+971-2-633-3149
investor.relations@bpgic.com
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