Oman’s Ministry sign agreement to build new crude oil pipeline

The Ministry of Energy and Minerals signed an agreement with the Oman Tank Terminal Company LLC (OTTCO), to develop, build and operate a new pipeline and its other associated facilities to transport, store and export Omani crude oil from Ras Markaz Crude Oil Terminal in the Special Economic Zone at Duqm.

This agreement will enhance the expansion and meet the future growth needs of both the Special Economic Zone at Duqm and the energy sector in the Sultanate of Oman, and will enable the strengthening of the position and reference of Omani crude oil, and support the plans of Ras Markaz crude oil services station in line with the growth strategies of the “OQ” Group and the Oman Tank Terminal Company LLC (OTTCO).

The station will provide handling, storage, import and export services for refineries and downstream petrochemical projects in the Duqm Special Economic Zone, in addition to meeting the requirements of customers and partners.

The Oman Tanker Company, as the developer of the project, will carry out the detailed studies necessary to implement this important project, including the facilities that will be needed by customers, producers and traders of Omani crude oil. The company will provide all operation and maintenance services for the project’s assets and facilities upon completion.

The agreement was signed by His Excellency Eng. Salem bin Nasser Al-Awfi, Minister of Energy and Minerals, Talal bin Hamed Al-Awfi, CEO of OQ Group, and Hilal bin Ali Al-Kharusi, CEO of the commercial sector, refineries and petrochemicals of OQ Group, and Chairman of the Board of Directors of the Oman Tank Terminal Company LLC (OTTCO).

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