MUSCAT, AUG 20 – Omani contractor Galfar Engineering and Contracting SAOG has announced that it has been awarded a subcontract valued at $16 million linked to the establishment of the first phase of Ras Markaz Crude Oil Park, located not far from the Special Economic Zone at Duqm. Galfar CEO Dr Hans Erlings said in a filing to the Capital Market Authority (CMA) yesterday that the client is China Petroleum Pipeline Engineering Company (Oman Branch). As part of the subcontract, Galfar will undertake the pre-site preparation, grading, levelling, earthworks and blasting works for the Crude Oil Park.
Oman Tank Terminal Company (OTTCO), a subsidiary of Oman Oil and Orpic Group, is developing the crude oil terminal at Ras Markaz on an area covering 1,250 hectares. At full build, it will offer around 200 million barrels of capacity, making it one of the largest crude and petroleum reserves in the world. Phase 1 phase of the ambitious projects includes the construction of eight tanks with a capacity of 650,000 barrels each. The terminal will also be connected to the Duqm Refinery currently under construction around 70 km further down the coast at Duqm.