Brooge Energy Announces Exceptional Safety Record Since Operations Began
23 Marzo 2021 - 2:21PM
Brooge Energy Ltd. (“Brooge Energy” or the “Company”) (NASDAQ:
BROG), a midstream oil storage and service provider strategically
located outside the Strait of Hormuz, adjacent to the Port of
Fujairah in the United Arab Emirates (“UAE”) through its
wholly-owned subsidiaries Brooge Petroleum and Gas Investment
Company FZE (“BPGIC”) and Brooge Petroleum and Gas Investment
Company Phase III FZE (“BPGIC III”), announced today it has reached
a major milestone by reporting 3.75 million hours worked without
any safety issues, including zero long term injuries (“LTI”), zero
product spills and all products delivered to customer
specifications, among other industry related KPI’s.
Nicolaas L. Paardenkooper, CEO of Brooge Energy
and BPGIC, said, “We are proud to report no safety issues since the
start of our Phase I operations in late 2017 and throughout the
construction of our Phase II facility, which is nearing completion.
Safety has always been paramount to the oil industry and the
midstream sector is no exception. We believe our excellent safety
record is due to strict adherence to compliance processes, as well
as our investment in building out highly automated terminals which
have continued to operate seamlessly throughout the year despite
the restrictions placed on us due to COVID-19.”
BPGIC is a key independent storage provider in
Fujairah, UAE, conveniently situated in the East-coast port of
Fujairah on the Gulf of Oman, which owns capacity to store clean
petroleum products (CPP) and fuel oil using some of the latest
technology to maximize company performance and efficiency, while
reducing operating costs. Through the development of its Phase II
and Phase III facilities, it is also building additional CPP
storage capacity as well as crude oil storage capacity using
similar technology.
About Brooge Energy Limited
Brooge Energy conducts all of its business and
operations through its wholly-owned subsidiaries, Brooge Petroleum
and Gas Investment Company FZE (“BPGIC”) and Brooge Petroleum and
Gas Investment Company Phase III FZE (“BPGIC III”), Fujairah Free
Zone Entities. Brooge Energy is a midstream oil storage and service
provider strategically located outside the Strait of Hormuz
adjacent to the Port of Fujairah in the United Arab Emirates. Its
oil storage business differentiates itself from competitors by
providing customers with fast order processing times, excellent
customer service and high accuracy blending services with low oil
losses. For more information please visit at
www.broogeenergy.com
Forward-Looking Statements
This press release contains “forward-looking
statements” within the meaning of the safe harbor provisions of the
U.S. Private Securities Litigation Reform Act of 1995, that involve
risks and uncertainties concerning BPGIC’s, BPGIC III’s and Brooge
Energy’s expected financial performance, as well as their strategic
and operational plans. The actual results may differ materially
from expectations, estimates and projections due to a number of
risks and uncertainties and, consequently, you should not rely on
these forward looking statements as predictions of future events.
Words such as “expect,” “estimate,” “project,” “budget,”
“forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “would,”
“could,” “should,” “believes,” “predicts,” “potential,” “continue,”
and similar expressions are intended to identify such
forward-looking statements. These risks and uncertainties include,
but are not limited to: (1) the ultimate geographic spread,
duration and severity of the coronavirus outbreak and the
effectiveness of actions taken, or actions that may be taken, by
governmental authorities to contain the outbreak or ameliorate its
effects; (2) Brooge Energy’s and its subsidiaries’ ability to
obtain financing for Phase III on commercially reasonable terms;
(3) Brooge Energy’s and its subsidiaries’ ability to negotiate and
enter into development and offtake agreements on commercially
reasonable terms; (4) the results of technical and design
feasibility studies, including the Soil Investigation and the
Environmental Impact Assessment report for Phase III; (5) the loss
of any end-users; (6) changes in customer demand with respect to
ancillary services provided by Brooge Energy and its subsidiaries
including throughput, blending, heating, and intertank transfers;
(7) Brooge Energy’s and its subsidiaries’ ability to effectively
manage the risks and expenses associated with the construction of
Phase II, Phase III and other growth and expansion projects; and
(8) other risks and uncertainties indicated from time to time in
filings with or submissions to the SEC by Brooge Energy. Readers
are referred to the most recent reports filed with or furnished to
the SEC by Brooge Energy. Readers are cautioned not to place undue
reliance upon any forward-looking statements, which speak only as
of the date made, and we undertake no obligation to update or
revise the forward-looking statements, whether as a result of new
information, future events or otherwise.
Investor ContactKCSA Strategic
CommunicationsValter Pinto / Elizabeth Barker+1 212-896-1254 or +1
212-896-1203BROG@kcsa.com
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