Enterprise Receives Deepwater Port License for Spot Project

Enterprise Products Partners L.P. (NYSE: EPD) (“Enterprise”) today announced that it has received the deepwater port license for the Sea Port Oil Terminal (“SPOT”) from the United States Maritime Administration (“MARAD”), an agency within the federal Department of Transportation. The license enables Enterprise to move forward to the next step in developing the offshore terminal capable of loading 2 million barrels per day (“BPD”) of crude oil.

“I would like to congratulate the entire Enterprise team, which demonstrated outstanding technical skills, dedication and perseverance over the past five years, allowing us to receive this license,” said A.J. “Jim” Teague, co-chief executive officer of Enterprise’s general partner. “With U.S. exports of crude oil at 4 million BPD, SPOT offers a more environmentally friendly, safe, efficient and cost-effective way to deliver crude oil to global markets. The receipt of the license is the most significant milestone to date in the development and commercialization of SPOT.”

Since the original application for a deepwater port license was submitted in January of 2019, Enterprise has worked diligently with various federal, state and local authorities, and participated in multiple public meetings that have allowed individuals and stakeholder groups to learn about the project and provide their comments to multiple environmental impact studies, including those translated into Spanish and Vietnamese. The exhaustive analysis associated with the project and continuous responses to requests for information from the various agencies produced more than 30,000 pages of documentation.

As planned, the SPOT offshore platform would be located approximately 30 nautical miles off the Brazoria County, Texas coast in 115 feet of water, and will be manned 24 hours per day. The facility is designed to load VLCCs and other crude oil tankers up to a rate of 85,000 barrels per hour. In addition, dual 36-inch diameter, bi-directional pipelines would be built that connect to the company’s new Oyster Creek crude oil terminal in Brazoria County that would be constructed approximately 10 miles inland. With a direct connection to Enterprise’s Houston ECHO terminal, as well as the company’s extensive integrated midstream network, SPOT would offer access to more than 40 distinct grades of crude oil, including Midland WTI.