Oman has began the tendering course of for the enlargement of its Ras Markaz Oil Storage Terminal at Duqm. On 28 July, state firm Oman Tank Terminal Firm (OTTCO) invited corporations to pre-qualify for an EPC tender to construct eight new crude oil storage tanks that may maintain 5.2mn barrels, doubling the location’s present capability.
The strategic undertaking comes as Gulf producers are reassessing their power infrastructure following Iran’s efficient closure of the Strait of Hormuz throughout the present battle and are in search of methods to bolster their storage capabilities outdoors of the strait specifically. Throughout the area, governments are putting larger emphasis on resilience via investments in potential new Hormuz-bypass pipelines, expanded state-owned delivery fleets in addition to such storage amenities. (CONTINUED – 815 WORDS)
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