SEZAD signs prelim agreement with DRPIC for Duqm Refinery Project
Posted on 28th November 2014
With the aim of pushing ahead with work on the Duqm Refinery project, the Special Economic Zone Authority in Duqm (SEZAD) has signed a preliminary agreement with Duqm Refinery and Petrochemicals Industries Co (DRPIC), according to reports in the Muscat Daily.
The agreement allows the company access to the project site to carry out field studies, preparatory and clearance works for the refinery. The proposed refinery will cover 9 million square meters and have the capacity to process around 230,000 barrels per day from a variety of crude mixtures.
DRPIC, which is a joint venture between Oman Oil Co and Abu Dhabi government’s International Petroleum Investment Co (IPIC), is currently progressing with the FEED for the project. The firm is expected to start the execution of the civil works by April-May next year and will start floating tenders for the refinery by the middle of 2015.
If the project progresses as per the schedule, the EPC contract for the refinery will be awarded by the middle of 2016, with completion estimated in the fourth quarter of 2019, added the report.
Duqm Refinery will be one of the biggest growth drivers for SEZAD and position Duqm as the next regional hub for petrochemical industries. It will also play a significant role in boosting the country’s economic growth.
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