Built to inform

Sign up for the daily newsletters

No, Thank you

Oman to build $400m oil storage terminal in Duqm

The terminal, 70km away from Duqm, will reportedly be constructed by a subsidiary of state-owned Oman Oil Company

Oman's oil terminal will be built in Ras Markaz. [Representational image]
Oman's oil terminal will be built in Ras Markaz. [Representational image]

Oman has revealed plans to construct an oil storage terminal in Ras Markaz, 70km from Duqm. 

The Sultanate's minister of oil and gas, Mohammad bin Hamad al-Rumhy, expects the project to cost between $300m and $400m (OMR115.5m to OMR154m). 

Duqm is already the site of port and industrial zone construction projects being implemented by the Sultanate. 

State-owned Oman Oil Company's (OOC) subsidiary will construct the terminal. 

Rumhy has not specified the project's construction schedule. 

The first phase of the facility will have a capacity of between six million and 10 million barrels of oil, and is expected to serve an oil refinery planned for Duqm. 

Capacity can be expanded to 200 million barrels. 

Remarking on the project, Rumhy said: "OOC will continue to develop the project and increase the number of tanks according to the level of demand in the oil storage market.

"Our ambition for Ras Markaz is to be one of the largest oil storage hubs worldwide," he added, according to Reuters.

Most popular

Awards

Construction industry conversations around digitisation must evolve
The Middle East construction industry’s approach to tech must evolve and focus on how can

Conferences

CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this
CW In Focus | Leaders in Construction Summit UAE 2019
A roundup of Construction Week's annual summit that was held in Dubai this September

Latest Issue

Construction Week - Issue 754
Nov 23, 2019