Muscat: The crude oil storage terminal at Ras Markaz in the Wilayat of Duqm, managed by the Oman Tank Terminal Company (OTTCO), will be operational by the end of the second quarter of 2022.
The project is crucial due to its strategic location and proximity to emerging markets in Asia and Africa.
Ard Van Hoof, CEO of OTTCO, said that the company’s vision is clear, which is to add value by providing storage services for liquid and gas products, including clean renewable products such as liquid hydrogen, ammonia, and others.
Engineer Salem bin Marhoon al Hashimi, Director General of the Ras Markaz Crude Storage Terminal, said that the storage capacity in the first phase is about 26.7 million barrels, and the company will increase its capacity in accordance with the growing demand from investors.
He added that the infrastructure needed to store crude oil during the first phase of the project is ready.
