DEVELOPING UPSTREAM CAPABILITIES
US $ 22 billion - the total cost of projects currently being implemented in Oman. In 2019, two exploration contracts worth US $ 58 million were signed with Occidental Oman and Oman Oil Company E&P, paving the way for 19 offshore drilling wells to be set up in the Sultanate.
HARNESSING DOWNSTREAM POTENTIAL
Oman Oil Company & ORPIC merge, creating a fully-integrated oil company, with combined stakes of about 1.1 million b/d of refining capacity in Oman, India and Hungary.
In progress: billion-dollar infrastructure projects such as the Muscat-Sohar Pipeline Project, Duqm Refinery Project, Liwa Plastics Industries Complex, and an integrated refinery complex with Kuwait Petroleum Corporation.
ATTRACTING GLOBAL INVESTMENT
Over US$ 10 billion has been invested towards transforming Duqm into a vibrant trading hub; including development of the China-Oman Industrial Park, that will eventually house Sino-GCC joint ventures spanning numerous sectors.