Oman Tank Terminal Company launches floating storage facility in Oman

MUSCAT: A new floating storage facility, with a 2.1 million barrel capacity at Mina Al Fahal, for global customers of Oman Export Blend, was launched on Thursday by Oman Tank Terminal Company (OTTCO), a subsidiary of Oman Oil Company (OOC).

MUSCAT: A new floating storage facility, with a 2.1 million barrel capacity at Mina Al Fahal, for global customers of Oman Export Blend, was launched on Thursday by Oman Tank Terminal Company (OTTCO), a subsidiary of Oman Oil Company (OOC).

Three customers — China Oil, Glencore and Oman Trading International (OTI) — have won bids for access to the facility on board a Very Large Crude Carrier (VLCC), which will be provided and operated by Oman Shipping Company (OSC).

OTTCO’s floating storage facility, which was initiated and supported by Oman’s Ministry of Oil & Gas (MOG), has been developed in partnership with OSC, Petroleum Development Oman (PDO) and the Dubai Mercantile Exchange (DME).

While the vessel itself will be operated by OSC, scheduling and nomination for the loading of crude oil will be managed by PDO. Ship-to-ship (STS) transfers will be executed by Fendercare Marine, an international specialised STS firm.

Read full article

Read next:

In the press

OTTCO Signs a Usufruct Agreement for the Establishment of Ras Markaz Crude Oil Park

Falling under the Sultanate's Promising Plan for Economic Diversification and Maintaining a Crude Oil Storage Terminal for Oman

Ras Markaz crude storage project to be awarded soon

A tender for developing the first phase of a large crude storage facility at Ras Markaz near Duqm will be awarded soon

Oman Oil Co capex to exceed $1bn in 2017

Diverse interests: Projects set to advance include gas pipelines, LPG extraction and ammonia projects

Get in touch

Media Contact

Government Relations &
Administration Manager

Office 203 & 204
Level 2, Al Rawaq Building
Opposite Qurum CityCenter
PO Box 190, PC 102
Muscat
Oman
Show contact details