November 04, 2024 [Atalayar]- Oman has just launched a new project in the energy sector aimed at building fuel depots to preserve strategic reserves needed by the local market.
The International Integrated Energy Group (OQG) has begun to move forward with the initiative, which is worth more than 78 million rials (about 204 million dollars), reports Al-Arab.
The project is part of OQ’s efforts to boost sustainable economic development and keep pace with the growing demand for petroleum products as a result of population growth and increased trade and investment activities.
It is also intended to cope with emergency situations through the storage of 91 and 95 automotive fuels, diesel and aviation fuel. This will also help ensure the continuity of the supply chain.
Musandam Governor Ibrahim bin saeed AL Busaidi, who sponsored the inauguration, confirmed that the fuel tank project aims to meet the needs of the governorate’s petroleum products, including in emergency situations, and consumers of various petroleum products.
‘The project represents an important contribution by the OQ Group as it supports its investments in the governorate and its efforts to serve local communities,’ Al Busaidi was quoted as saying by Oman’s official news agency.
The project will include a pipeline at a depth of about 39 meters that will be powered by solar and wind energy. The pipeline will consist of two lines, each measuring 12 inches and two kilometres long. The facility will also have a fibre-optic line running parallel to the pipeline.
Salem Al-Awfi, Omani Minister of Energy said that ‘this project is part of the efforts made by the Ministry in cooperation with the OQ Group to meet the requirements for oil derivatives and ensure their availability in emergency situations’.
In this regards, he said that there is a growth in local demand for petroleum products as a result of population growth and commercial activities.
For his part, Ashraf Al Mamari, CEO of OQ, stressed that the project is a further addition to the investments of the group and its companies in the governorate of Musandm, which amount to more than 800 million rials.
‘This project reflects the OQ Group’s commitment to fulfilling its national role and responsibility to achieve sustainability in the energy sector and an effective response to the growing needs of the sector in the governorate,’ he added.
Notably, the project, which will cover an area of about 100,000 square metres and will take 36 months to build, will include tanks, a warehouse, a control room , a pump area, a truck loading area, fire and safety facilities and a marine facility to receive ships.
