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Orpic plans to commission Sohar Refinery Improvement Project (SRIP) in the fourth quarter of 2016 and Muscat Sohar Product Pipeline (MSPP) in 2017, says Musab Al Mahruqi, CEO, Orpic.
Orpic is one of Oman’s largest and most rapidly growing businesses in the Middle East oil industry. And all its projects are progressing as per schedule.
Sohar Refinery Improvement Project (SRIP) is scheduled for commissioning in the fourth quarter of 2016, Muscat Sohar Product Pipeline (MSPP) in 2017 and recently the Engineering Procurement and Contracting (EPC) agreements for LPIC was signed, which is scheduled for commissioning in 2019. Orpic’s Refineries in Sohar and Muscat, as well as the Aromatics and Polypropylene Plants in Sohar, provide fuel, chemicals, plastics and other petroleum products, to Oman and the world.
As part of our vision of building an integrated refining and petrochemicals business, we have undertaken multi-billion dollar projects over the next four years – Sohar Refinery Improvement Project (SRIP), Muscat Sohar Product Pipeline (MSPP) and Liwa Plastics Industries Complex (LPIC). “We are confident that these projects will add further value to the oil & gas resources of Oman, diversify our product mix thereby supporting Orpic’s firm entry in the petrochemicals marketplace. It will also lead to a quantum leap of our businesses in terms of profitability,” says Musab.
“When we looked at the available molecules and conducted feasibility studies in 2011, we found an opportunity to upgrade those molecules to high quality plastic components. We realised that natural gas represented a rich source of valuable molecules and we tried to find a way to extract more value from natural gas. Our aim is to capture the opportunities that each of these streams provide and extract the maximum value add from the crude oil barrel.”
Market uncertainty is a reality but the ability to adapt is key – it’s the DNA of any business and ours is no different. Prices change and reduce on a daily basis and so does demand therefore making it a dynamic business. At Orpic, we are geared internally to make quick decisions on the basis of where we will be able to add maximum value. Diversification of our product portfolio and further integration between our downstream and petrochemical facilities will not only help us become more profitable but it will also safeguard us against price fluctuations, he adds.
