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Oman Oil scales up Duqm Refinery and Petrochemical complex project

OOC and Takamul to build world-scale storage terminal

2B1st_Project_Smart_Explorer_Sales_Pursuit_ToolOn January 2013, Oman Oil Company (OOC) and Takamul Investment Company (Takamul), both companies from the Sultanate of Oman, established a joint venture to build one of the world largest oil storage terminal at Raz Markaz in Oman.

Called Oman Tank Terminal Company LLC (OTTCO), this new company will share the interests between the stakeholders such as:

OOC_Duqm_Refinery_and_Raz-Markaz_Terminal_Map – OOC 90% the operator

 – Takamul 10%

The purpose of this joint venture is to build, own and operate a giant oil tanks farm with a capacity of 200 million barrels of crude oil.

This oil terminal should be located in Raz Markaz, 70 kilometers south of Duqm, along the coast of the Al Wusta Governorate in Oman.

OOC and Takamul selected Raz Markaz as to be the closest harbour from Duqm to offer a natural access by the Indian Ocean with 32 meters of water depth.

With this natural water channel in the seabed, Raz Markaz will be able to handle crude oil super tankers.

Raz Markaz oil storage terminal to become regional hub

Positioned in the southern part of the Sultanate of Oman with directly on the Indian Ocean, The OOC and Takamul oil storage terminal is designed to take a strategic position in the region as to shunt the Strait of Hormuz.

OOC_IPIC_Duqm_Refinery_ProjectIn addition to the role of import terminal for the Duqm refinery, the Raz Markaz oil storage terminal is intended to become a regional hub in the Middle East at the same scale as Singapore in Asia or Rotterdam in Europe.

Currently the Strait of Hormuz concentrates 42% of the global crude oil trade, but with the development of the exploration-production in Iraq, Kuwait, Saudi Arabia and Abu Dhabi in the United Arab Emirates, this ratio is expected to climb up to 50% in the next 20 years.

In addition to store oil, the Raz Markaz terminal will have also the facilities to blend crudes and separate them through different sizes of tanks with capacities per unit ranking from 755,000 barrels to 1.75 million barrels.

OOC and Takamul Raz Markaz project will become the second oil storage terminal in Oman after Mina Al-Fahal along the north coast in the Gulf of Oman.

OOC adds pipelines in Duqm and Raz Markaz projects

To balance the supply and develop its import and export capabilities, the Oman Ministry of Oil and Gas signed a Memorandum of Understanding with the OOC and Takamul OTTCO joint venture to build a crude oil pipeline between their Raz Markaz oil terminal and the Main Oil Line pipeline in the north of the country.

Oman_Duqm_Refinery_and_Liquid_Jetty_projectonnection between the pipeline coming from Raz Markaz and the Main Oil pipeline should take place in Al-nahda.

This crude oil pipeline between Raz Markaz and Al-nahda should be approximately 440 kilometers long.

It should be a separate pipeline from the line to supply the Duqm Refinery and petrochemical complex.

To power the Duqm integrated refinery-petrochemical complex, OOC is also planning a 230 kilometers natural gas pipeline between the Saih Nihayda gas field and a power generation facility to be installed in Duqm.

This pipeline should have a capacity of 25 million cf/d and should run into operation in 2015.

For the export of petrochemical products, OOC is planning with its partner International Petroleum Investment Company (IPIC) in the Duqm Refinery and Petrochemical project to add a jetty with storage capacity of 150,000 tonnes of liquids. 

Because of the size of the Raz Markaz oil storage terminal project, OOC and Takamul are planning to build it in phases with the phase one due to start in 2017.

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2 Comments to “Oman Oil scales up Duqm Refinery and Petrochemical complex project”

  1. What’s up, yeah this post is actually pleasant and I have learned lot of things from it about blogging.

  2. Oman has finished preparations for becoming a regional hub for exports and imports, after billions of rials of investment for the development of ports along the country’s coast line, according to a report.

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