Duqm refinery and petrochemical complex project, which is scheduled to be completed by the end of 2017, will see majority of its exports to Europe, reported the Muscat Daily.
The chairman of the Special Economic Zone at Duqm, HE Yahya Said al Jabri has said this at an investment forum in Oman.
Jabri has said the US$6bn project will create an investment climate for other energy and oil and gas projects.
“Our aim is to portray Duqm as a world-class potential area for investment opportunities.
“The capacity for the refinery will be 230,000 barrels of heavy crude oil per day, which will be mainly exported to Europe. The completion target for the project is by the fourth quarter of 2017.”
The oil refinery project is a 50:50 joint venture between Oman Oil Company and UAE’s International Petroleum Investment Company.
The development of the refinery is considered to be one of the most important investment project as it will also support the growth of other petrochemical industries in the sultanate.
