Oman’s OQ completes construction of 1st phase of Raz Markaz project

Oman’s OQ completes construction of 1st phase of Raz Markaz project

Oman’s leading global integrated energy company, OQ Group has completed the construction works of the first phase of the Ras Markaz crude oil storage terminal, with a storage capacity of about 26.7 million barrels.

The Ras Markaz project, which is located in the Al Wusta Governorate, is one of the strategic projects in the Sultanate of Oman.

The project is implemented by the Oman Tank Terminal Company (OTTCO) and it is the largest of its kind and was built in accordance with international standards, with 100 percent Omani financing.

Mr. Salem bin Marhoon al Hashemi, general manager of the project, said that, “Ras Markaz aims to store and blend all types of crude oil in large quantities, with its infrastructure capable of meeting the needs of local and international markets.”

The company aims to make the Ras Markaz project the largest crude oil storage project in the Middle East to serve as an important global center for trading crude oil.

Mr. Al Hashemi confirmed that the Sultanate of Oman currently relies on Mina al Fahal to export crude oil. The general manager pointed that the first phase of the project is a 10 square kilometer area and the total area allocated for the entire project