Oman’s Ministry of Energy and Minerals and Oman Tank Terminal Company (OTTCO), a subsidiary of state energy firm OQ, have signed a framework agreement to develop a new pipeline to facilitate the export of Omani crude oil from the Ras Markaz storage terminal.

The plan is to connect the under-development storage facility to Oman’s existing crude oil pipeline network. As it stands Ras Markaz can only receive volumes via tanker through a single point mooring (SPM) unit, and a pipeline connection would facilitate more economical supplies. (CONTINUED - 926 WORDS)