 NEW YORK, Aug. 06, 2020 GLOBE NEWSWIRE -- Brooge Energy Limited 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 subsidiary Brooge Petroleum and Gas Investment Company FZE BPGIC, announced today it has commenced hydrotesting for its Phase II storage facility expansion, an important milestone that signifies the advanced stage of the terminals development.With the commencement of all the necessary hydrotests, the development of the Phase II facility has now entered into some of the testing stages required of the construction process. Hydrotesting is considered a major milestone of this process confirming the tank integrity. Once Phase II construction is finalized, the facility will increase the Companys total geometric oil storage capacity to approximately 1 million m3 or 6.3 million barrels, from its current geometric capacity of approximately 400,000 m3, or 2.5 million barrels, and also enables the Company to offer crude oil storage using some of the latest technology to enhance Company performance and operational efficiency.Nicolaas L. Paardenkooper, CEO of Brooge Energy and BPGIC, said, We are nearing an advanced and important leg of the construction of our Phase II oil storage facility and are very pleased to reach this milestone, notwithstanding the current challenges due to ongoing restrictions. Once completed, we believe this facility will make us the second largest non-captive storage provider in Fujairah. The facility is already fully contracted on a multi-year basis so will be operating at full capacity and revenue-generating as soon as it is operational and past the testing and commissioning stage.About Brooge Energy LimitedBrooge Energy, formerly known as Brooge Holdings, conducts all of its business and operations through its wholly-owned subsidiary Brooge Petroleum and Gas Investment Company FZE BPGIC, a Fujairah Free Zone Entity. BPGIC 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. BPGICs oil storage business 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. For more information please visit 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 BPGICs and Brooge Energys 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 BPGICs ability to obtain financing for Phase III on commercially reasonable terms; 3 BPGICs 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 Phase III FEED study; 5 the loss of any end-users; 6 changes in customer demand with respect to ancillary services provided by BPGIC including throughput, blending, heating, and intertank transfers; 7 BPGICs 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 Contact KCSA Strategic Communications Valter Pinto Elizabeth Barker 1 212-896-1254 or 1 212-896-1203 