Ras Markaz terminal receives first oil shipment in Oman

MUSCAT, January 11, 2023 – Oman’s Ras Markaz crude oil storage and export terminal has received its first shipment of oil, NOC OQ announced on Tuesday.

Basic construction of the first phase of development was completed in December 2022, with a capacity of 26.7 million barrels.

The asset is strategically located in the Al Duqm region and provides alternative storage and export options along the Strait of Hormuz.

It will also provide for the upcoming 230,000-bpd Duqm refinery via an 80-kilometres pipeline, which is also expected to be commissioned in Q1 2023. Eight of the storage terminal’s tanks are dedicated to the refinery, which is located in the Special Economic Zone at Duqm.

The terminal will also fulfil demand from other developments at the special economic zone.

According to OQ, the Raz Markaz crude oil storage and export terminal will be the largest of its kind in the Middle East when completed.

The project is being carried out by OQ’s fully owned subsidiary Oman Tank Terminal Company.

“The capacity of Ras Markaz Crude Oil Storage and Export Terminal is subject to technical considerations and the preferences of investors,” said Salem Marhoon Al Hashemi, General Manager of Ras Markaz Terminal.

“More storage tanks could also be added to meet any further investment demands.”

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