Muscat: OQ Gas Networks – a subsidiary of OQ, has formalised a deal with Madayn for the acquisition of the gas networks constructed by the Madayn, to provide natural gas to industrial consumers within their industrial parks.

The agreement was signed by Hilal bin Hamad al Hasani – CEO of Madayn, with Eng. Mansour bin Ali al Abdali – Vice President of OQ Gas Networks. The asset transfer agreement is in line with principles set out in Oman’s Vision 2040 recommending the optimal use of national resources and assets to support economic development effectively and cost-competitively.

Hilal bin Hamad al Hasani, CEO of Madayn, said the transfer of its assets to OQ Gas Networks will help in the standardisation of supply and services to industrial consumers operating within its industrial parks. 

Mansour bin Ali al Abdali, Vice President of OQ Gas Networks, stressed the importance of strategic cooperation with government agencies to ensure efficient delivery of gas and optimal utilisation of natural gas resources.