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Key pact signed Key pact signed for new $2.4bn refinery at Oman’s Duqm SEZ Jul 03, 2021 Plans for the implementation of a privately-owned oil refinery at Duqm Special Economic Zone have been firmed up following the signing of a key agreement with a well-known Canadian-based international technology provider. Muscat-headquartered Ras Madrakah Petroleum Industry Company (RMPIC), described as the first and only privately-owned entity to obtain a licence from the Omani government to develop a refinery in the Sultanate, plans to establish a roughly 200,000 barrels per day (bpd) capacity plant in the SEZ at an estimated cost of $2.4 billion. When eventually operational, the project will reinforce Duqm’s credentials as a regional refining and petrochemicals powerhouse, anchored by Omani-Kuwaiti OQ8’s world-scale 230,000 bpd grassroots refinery currently in an advanced stage of execution at the SEZ and due to launch in 2023.

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