Oman Oil Company and Oman Oil Refineries and Petroleum Industries (Orpic) will jointly inaugurate the $2.7-billion Sohar Refinery Improvement Project (SRIP) thus boosting local and international demand for oil derivatives.
SRIP adds five new units, thus improving Sohar refinery’s ability to process heavier Omani crude oil including crude distillation unit (CDU), vacuum distillation unit (VDU), delayed coker unit (DCU), hydrocracker unit (HCU) and bitumen blowing unit, said a statement from Orpic.
These units are vital to handle heavy crude more efficiently, which increase the performance, production and lower emissions, it stated.
The inauguration ceremony will be held under the patronage of Dr Mohammed bin Hamad Al Rumhy, Minister of Oil and Gas, and chairman of the board of directors of Oman Oil and Orpic Group.
The project is all set to enhance the group assets value and further maximise the Omani crude oil value besides helping meet the increasing demand for oil and refined products locally and internationally in order to support the economic development of the sultanate, it added.
The project contributes significantly to improving the environmental performance of Sohar Refinery and supporting it in overcoming the challenges resulting from changing the quality of the crude oil mix, with the five new units.
The project will enable Sohar Refinery to increase the value achieved from each barrel of crude oil to the sultanate, as well as its ability to adapt to unexpected changes in the quality of crude oil, thanks to its modern technology, which is currently operating efficiently.
The project will bring economic benefits to the GDP, as well as supporting local companies, providing about 300 direct jobs, 900 indirect jobs, supporting small and medium enterprises (SMEs) in the sultanate and enhancing local added value, said the statement.
The Sohar Refinery Improvement Project achieved a total of 74.4 million hours without lost time injury (LTI), as well as an added value of $720 million, with more than 300 projects being awarded
to the local SMEs sector, it added.-TradeArabia News Service