Construction of the 230,000 b/d Duqm refinery and petrochemicals project is scheduled to be completed by the fourth quarter of 2017, said the Chairman of Duqm’s Special Economic Zone (SEZ) Yahya bin Said al-Jabri. The complex is a joint-venture between state-owned Oman Oil Company (OOC) and Abu Dhabi’s International Petroleum Investment Company (IPIC).
A site for the project has already been allocated and the financing elements have all been approved by both OOC and IPIC, said Mr Jabri. At the Oman Investment Forum 2012 on 8 October he said the majority of the refined petroleum products from the heavy crude refinery will be targeted for export to Europe, the Middle East and Asia. (CONTINUED - 619 WORDS)