Muscat: Oman Oil Company (OOC) has signed a shareholders’ agreement with Port of Duqm Company (PDC) to establish the Duqm Petroleum Terminal Company (DPTC) to further strengthen Duqm’s status as the upcoming regional hub for hydrocarbons, refining and petrochemicals. The agreement was signed by Mulham al Jarf, Deputy CEO of OOC, Rien Van de Ven, CEO of PDC, and Ahmed al Amry, Project Director of DPTC.
DPTC’s first order of business will be to develop and operate a liquid bulk jetty that will accommodate vessels of up to 225 m. In addition, DPTC will build a 1m cu m tank storage terminal to support the jetty’s operations at the Port of Duqm, which is expected to be operational by mid-2018.
“This latest addition to the OOC portfolio is in line with our strategy to develop industrial hubs across the Sultanate. We are continuing our collaboration with the Special Economic Zone Authority Duqm to support the infrastructure developments and the petrochemical industries in the area. Once operational, DPTC will offer a solid proposition to our operations in Duqm in relation to hydrocarbon storage, facilitating the import of crude and exporting of refined products and will be instrumental to the success of the upcoming Duqm Refinery planned for 2018 and the planned Oxo production plant,” said Mulham al Jarf, Deputy CEO of OOC.
OOC has equity of 90% and PDC 10% of DPTC. [15/05/14]