Etihad Energy Holding has confirmed that Front-End Engineering Design (FEED) has begun for a refinery to produce Euro 5-compliant gasoline in Fujairah.

“We are awaiting its completion before announcement, in cooperation with Italy’s PEG (Italy) and US’ Honeywell UOP,” the company, formerly Gulf Navigation Holding, said in a filing on the Dubai Financial Market.

The estimated capital expenditure (CAPEX) for the project is between $300 million and $350 million. The CAPEX will be finalised upon completion of the relevant studies.

The Fujairah refinery will have a processing capacity of nearly 15,000 barrels per day (bpd), with a primary focus on processing naphtha to produce Euro 5-compliant gasoline and other higher value-added products, in line with the requirements of regional and international markets.

The work on the refinery is being undertaken by Brooge Petroleum and Gas Investment Company, a wholly owned subsidiary, the statement said.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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