Oman Oil, the state-run petroleum investor, and International Petroleum Investment of Abu Dhabi are preparing a study on the capacity of their planned Duqm refinery, Oman’s oil minister said.
“They are finalising the study to determine the size of the refinery,” Mohammed al-Rumhy said today in a phone interview from Dubai. “It should be ready in the next month or two.”
Oman, the biggest Arab oil producer that isn’t a member of the Organisation of Petroleum Exporting Countries, is going ahead with the project that has been planned at the port of Duqm since at least 2006, according to al-Rumhy.
IPIC said in a bond prospectus in October it would go ahead with a 230,000 barrel-a-day plant at Duqm that will cost US$6bn with the investment split evenly with Oman Oil.
Oman will produce an average 900,000 barrels a day of crude and condensate this year, little changed from the end of last year, al-Rumhy said last month.For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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