OTTCO signs agreement for Oman crude storage terminal

MEED  The Special Economic Zone Authority at Duqm and the Oman Tank Terminal Company have signed an agreement over the construction of the Ras Markas crude oil storage terminal. The usufruct agreement allocates 1,253 hectares of land in Duqm for the Ras Markaz terminal for a period of 40 years. It grants the company exclusive rights for the storage of crude oil and its derivative in the area for a period of 20 years and for five years in the Special Economic ... Read More