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OOC establishes new unit to build Ras Markaz terminal
- Oman: Tuesday, January 15 - 2013 at 06:21
Oman Oil Co (OOC), in partnership with Takamul Investment Co, has set up a new company to build, own and operate the large oil terminal at Ras Markaz, in Al Wusta Governorate, with a storage capacity of 200 million barrels, Muscat Daily has reported. Oman Tank Terminal Co (OTTCO) signed a memorandum of understanding with the oil and gas ministry for the construction of a 440km-long crude-oil pipeline that will connect the terminal in Ras Markaz with the main line at Nahada. The agreement also includes strategic plans to develop storage capacity for Oman crude. The terminal in Ras Markaz will be the largest storage facility in the Middle East and one of the biggest in the world, OOC said.
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