Duqm refinery development deal to be signed tomorrow

MUSCAT: The partnership agreements between Oman Oil Company, the government investment arm in oil and gas sector and energy related projects and Kuwait Petroleum International (KPI) to develop Duqm Refinery and Petrochemical Industries Company (DRPIC) will be signed on Monday. The project is one of the most important industrial projects at Duqm Special Economic Zone. The Project will transform the Zone into one of the key industrial and economic hubs in the Sultanate and a nucleus for petrochemical industries in the future. Essam bin Saud al Zadjali, CEO of Oman Oil Company, said that the works related to levelling the site of the refinery, which stretches over, 900 hectares, has been completed. The refinery, which will produce 230,000 barrels per day, is expected to start operation in 2020. He added in a statement to Oman News Agency (ONA) that the final investment decision for the project will be during the third quarter this year. Meanwhile, the Special Economic Zone of Duqm (SEZD) will lay the foundation stone for the Sino-Omani Industrial City (SOIC) in Duqm on April 19. The ceremony will be attended by Wang Heshan, Deputy Governor of Ningxia Province, Yahya bin Said al Jabri, Chairman of the Special Economic Zone Authority of Duqm (SEZAD), and officials from the Sultanate and China. Oman Wanfang LLC is the main investor in the project, which will be built on a total area of about 1,172 hectares. During the ceremony, Wanfang Oman will sign agreements with several Chinese companies to carry out various projects including methanol, diesel and a tourist project. — ONA