Energy
Agreement Inked To Develop New Pipeline To Export Oman Crude Oil

The Ministry of Energy and Minerals and Oman Tank Terminal Company (OTTCO), a subsidiary of OQ Group, signed today a framework agreement for joint cooperation to develop, build and operate a new pipeline that will be connected to transfer, store and export Oman’s crude oil from the Ras Markaz crude oil storage terminal in the Special Economic Zone at Duqm (SEZAD).
The agreement was signed by Salim Nasser Al Aufi, the Minister of Energy and Minerals; Talal Hamed Al Awfi, OQ Group CEO; and Hilal Ali Al Kharousi, the CEO of Commercial and Downstream Sector at OQ and Chairman of the OTTCO Board of Directors.
The agreement enables expansion in the energy sector by meeting the expected growth in SEZAD and the energy industry in the Sultanate of Oman.
It will also support Oman’s crude oil as a benchmark and for the Ras Markaz Terminal to become a regional hub in alignment with OQ and OTTCO’s growth strategy.
The terminal will provide crude oil handling, storage, import and export services for refineries and petrochemicals downstream projects in SEZAD and will serve the market needs of customers and other stakeholders.
OTTCO will conduct detailed studies and move forward with the execution and implementation of this project. It will provide facilities that might be required for customers, producers and traders of Oman’s crude oil.
In addition, OTTCO will also provide all services related to the operations and maintenance of the facilities and assets.
-
OER Magazines2 months ago
OER, April 25
-
Alamaliktistaad Magazines2 months ago
Al-Iktisaad, April 25
-
Renewables1 month ago
Jindal Renewables and OQ Alternative Energy Sign Joint Development Agreement to Advance Integrated Renewable Power Projects in Oman
-
Business2 months ago
St. Petersburg International Economic Forum 2025 unveils its Business Programme
-
Leaders Speak1 month ago
OERLive SPOTLIGHT: Oman Sustainability Week 2025 and Oman Petroleum & Energy Show
-
Alamaliktistaad Magazines4 weeks ago
Al-Iktisaad, May 25
-
Banking & Finance2 months ago
How is National Bank of Oman Working Towards Creating a Robust Fintech Ecosystem?
-
Banking & Finance2 months ago
How Bank Muscat is Pioneering Digital Solutions to Empower Customers