The construction of a crude oil storage terminal at Ras Markaz is in the final stages of design, the Oman Oil Company has announced.
Once complete it is anticipated that it will be the largest crude storage terminal in the Middle East region, with capacity of up to 200 million barrels. The contract for the terminal is expected to be tendered by the end of 2015.
The project is being executed by the Oman Tank Terminal Company and Takamul Investment Company.
The terminal will be built in phases – with the first expected to be operational by 2017. It will serve storage requirements for the proposed refinery in Duqm and will provide a blending facility for crude.
It will be built over 1,600 hectares and will include marine facilities for loading and unloading crude oil.