Ras Markaz: World Hub for Crude
Sponsored Report
The Government of Oman is expanding the country’s crude-oil export capacity to become a global player in the strategic and commercial oil-storage market. This has been made possible by Royal Decree No. 5 of 2016, which expanded the Special Economic Zone of Duqm to include Ras Markaz and its proposed storage facilities. The total area of Duqm SEZ has been expanded from 1,745 to 2,000 square kilometers. This ambitious project is part of Oman’s strategic crude-storage initiative, complementary to the development of the Duqm Special Economic Zone.
At the heart of the Ras Markaz Crude Oil Park’s appeal is its strategic location, offering easy access to markets in South Asia, the Far East and Africa, as well as land and sea access to producers in the Middle East. This storage facility will sit on Oman’s Indian Ocean coastline around 1000 km from the Strait of Hormuz, providing infrastructure and flexibility for the growth of the oil and petrochemical sectors in the industrial zone of Duqm SEZ. From this strategic vantage point, the Ras Markaz terminal will contribute to increasing the crude-oil tanker traffic to the Sultanate. Moreover, the project is envisioned to position the Sultanate as a major hub for crude-oil storage in the region, meeting the requirements of crude-market players: producers and consumers, traders, international oil companies, shippers and refineries.
Ras Markaz is managed by the Oman Tank Terminal Company (OTTCO), established by the Oman Oil Company with a mandate to build, own and operate the Ras Markaz crude-oil terminal, south of Duqm on the east coast of Oman, in a phased manner. Approximately 1,600 hectares of land have been allocated, to accommodate up to 200 million barrels of storage with access to a water depth of 32 meters outside the Strait of Hormuz.
Ras Markaz Crude Oil Park will provide customers with the following services 24/7:
• Short- and long-term commercial storage
• Strategic storage
• Making bulk
• Export of Oman Blend
• Value-added services (blending, for example)
• Pipeline connection to the Duqm refinery
The facility is both a critical element in the next generation of Oman’s diversified infrastructure, and a key link in the Indian Ocean’s maritime energy supply chain.
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