March 24, 2015 [MEsteel] - Oman Oil Company has announced that the Build-Own-Operate (BOO) contract for the construction of a crude oil storage terminal with capacity of up to 200 million barrels at Ras Markaz is final stages of design.
The EPC contract is expected to be tendered by end of 2015. UK-based global oil and gas engineering giant Amec Foster Wheeler was awarded a contract to undertake the front-end engineering design (FEED) for this project. This project will be located in Al Wusta region of Oman, 70 kilometres south of Duqm. On completion, it will be the largest crude storage terminal in Middle East region.
The scheme is being executed in partnership with local Takamul Investment Company and a new company known as Oman Tank Terminal Company (OTTCO) has been established for this purpose.
The terminal will be built in phases and the first phase is expected to be operational by 2017. It will serve storage requirements for various customers, including the proposed refinery in Duqm and also provide blending facility for crude. The terminal will provide and operate different tank sizes, with a capacity of 755kbbl, 1mbbl and 1.75mbbl each. The size and strategic geographic location of this terminal provides an excellent opportunity for it to emerge as an important global hub in the Middle East for storage and trading.
The terminal will be built over 1,600 hectares and will include marine facilities for loading and unloading crude oil. The Ras Markaz Crude Oil Park will be connected to the main line at Nahada through a 440-kilometre pipeline as part of an agreement with the client. There is also expected to be a pipeline between the terminal and the planned Duqm Refinery.
