more
news

From the Field

Khazzan gasfield in Oman

Oman Gas Company secures USD 1.1 billion

MUSCAT, November 6, 2018 – Oman Gas Company (OGC) signed a deal with seven local and international financial institutions on Monday for financing of USD 1.1 billion, local media reported.

 

The package will fund capex requirements under a new business model for OGC’s gas network. Oman plans extensive investments in domestic energy infrastructure projects through OGC, the infrastructure vertical of NOC Oman Oil Company.

As part of the restructuring of the NOC and its subsidiaries, OGC will earn revenues under a new system using a regulatory asset base, or RAB. The RAB model is a long-term tariff designed to encourage investments in infrastructure.

The new funding package will aid OGC in its new bridge-to-bond financing strategy, which aims to build a longer-term capital structure for the company.

Stay Informed