Brooge Energy Ltd. Applies for Permit to Start Testing and C

Brooge Energy Ltd. Applies for Permit to Start Testing and Commissioning as Final Regulatory ...


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Brooge Energy Ltd. Applies for Permit to Start Testing and Commissioning as Final Regulatory ...
Brooge Energy LimitedJuly 14, 2021 GMT
Commences receipt of advance income for Phase II storage fees
NEW YORK, July 14, 2021 (GLOBE NEWSWIRE) -- Brooge Energy Ltd. (“Brooge Energy” or the “Company”) (NASDAQ: BROG), a midstream oil storage and service provider strategically located outside the Strait of Hormuz, in the Port of Fujairah in the United Arab Emirates (the “UAE”), today announced that its wholly owned subsidiary, Brooge Petroleum and Gas Investment Company FZE (“BPGIC”), has applied for a permit to commence testing and commissioning for its Phase II storage facility, the final step in order to secure regulatory approval to open the facility. Phase II is fully contracted, and the Company has already commenced receipt of advanced income for Phase II storage fees, which are anticipated to contribute to its revenues in the second half of 2021.

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