The planned 230,000 b/d Duqm refinery, the crown jewel of Oman’s oil sector investment plans, has tied up $4.61bn in project finance.
Duqm Refinery and Petrochemicals Industries Company (DRPIC), a 50:50 JV of Oman Oil Company (OOC) and Kuwait state counterpart KPI, says funding will come from 29 financial institutions in 13 countries. Without listing the lenders, DRPIC says the finance will comprise international commercial, onshore commercial and Islamic facilities covered by UK Export Finance (UKEF), Spain’s CESCE and Korea’s Kexim. (CONTINUED - 166 WORDS)