Oman Set For Huge Petroleum Storage Capacity Expansion

28 Sep 2012 Issue: 55 / 40

Oman is looking to establish a new 200mn barrel capacity crude oil and refined products storage depot at Duqm, on the sultanate’s southeastern coast.

Speaking at the launch of The Oil and Gas Year Oman 2012 publication on 23 September, Oman’s Oil and Gas Ministry Under-Secretary Nasir al-Jashmi revealed that officials at state-controlled Oman Oil Company (OOC) were in the process of assessing the feasibility of the project set to be located in Raz Markaz in Duqm.

“[The] Raz Markaz project is one of the biggest projects that Oman Oil is studying for storage of crude and products,” Mr Jashmi told the Oman Observer. “This is going to be one of the largest in the world. We are planning to store about 200mn barrels (approximately 31.7mn cu ms) there,” he continued. A project manager has already been appointed, the undersecretary said, adding also that a review of potential marketing strategies was next on the ministry’s agenda. (CONTINUED - 616 WORDS)