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.
-
News1 month ago
Offer Price, Overview, Investors: Here’s Everything You Need to Know About Asyad Shipping’s Mega IPO
-
Automotive2 months ago
[REVIEW] A Legend Reinvented: The Nissan Patrol Y63 Blends Heritage with Modern Mastery
-
OER Magazines1 month ago
OER, February 25
-
Alamaliktistaad Magazines1 month ago
Al-iktisaad, February 2025
-
Energy1 month ago
Dubai Supreme Council of Energy Unveils 5th Emirates Energy Award 2023–2025 in Muscat
-
News2 months ago
Oil Prices Rise as Investors Assess New US Tariff Threats
-
News2 months ago
Middle East Emerging as a Key Destination for Sports Tourism
-
News4 weeks ago
Shell Oman Marketing Company Hosts the 1st Lubricants Technology Conference in Muscat