Name of Client : Oman Tank Terminal Company (OTTCO)

Estimated Budget : $400,000,000

Facility Type : Oil Storage Terminal

Sector : Oil

Location : Ras Markaz, Oman

Main Contractor : China Petroleum Pipeline Engineering Corporation (CPP)

Award Date : 2018-Q3

Background

Oman Tank Terminal Company (OTTCO) plans to build a massive crude oil storage hub at Ras Markaz near Duqm. The storage hub will also serve as an alternative export terminal for Omani crude in the event of supply disruptions affecting the nation's only crude export terminal at Mina Al Fahal in Muscat Governorate. The storage terminal will be developed to mainly store crude oil products, with the possibility to store other products in the future. The total capacity of the park once complete is envisioned at 200 million barrels. The first phase of the park will have a capacity of 6 million barrels.

Project Status

As of October 2021, Phase 1 of Ras Markaz Oil Storage Park is approaching completion. Phase 1 will hold an initial capacity of 25 million barrels, and is expected to be launched in Q1 2022.

Project Scope

The first phase of the project includes the construction of 16 tanks with an estimated capacity of 650,000 barrels each floating platforms for the import and export of oil; a marina for towing boats; 7 km-long undersea pipelines for receiving and exporting oil; pumping station; laboratories, control rooms, and administrative offices; two parallel 14-km, 42-inch subsea oil pipelines; offshore single-point mooring crude oil receiving terminal submarine manifolds; and other facilities relating to safety and security.

Project Finance

OTTCO is the project client.

Project Schedules

Project Start : 4Q-2012

FEED : 1Q-2015

EP : 3Q-2018

Construction : 2Q-2020

Completion : 1Q-2022