The Ministry of Energy and Minerals signed a framework agreement with the Oman Tanker Company (OTCO), to develop, build and operate a new pipeline and other associated facilities to transport, store and export Omani crude oil from Ras Markaz Crude Oil Terminal in the Special Economic Zone at Duqm.

This agreement will enhance the expansion and meet the future growth needs of both the Special Economic Zone at Duqm and the energy sector in the Sultanate of Oman, and will enable the strengthening of the position and reference of Omani crude oil, and support the plans of Ras Markaz Crude Oil Services Station in line with the growth strategies of Okio Group and the Oman Tanker Company “Otko”.

The station will provide handling, storage, import and export services for refineries and downstream petrochemical projects in the Duqm Special Economic Zone, in addition to meeting the requirements of customers and partners.

The agreement was signed by His Excellency Eng. Salem bin Nasser Al-Awfi, Minister of Energy and Minerals, Talal bin Hamed Al-Awfi, CEO of Okio Group, and Hilal bin Ali Al-Kharusi, CEO of the commercial sector, refineries and petrochemicals of Okio Group, and Chairman of the Board of Directors of the Omani Tank Company.