OTTCO operates world class oil storage infrastructure. We provide best-in-class service, connectivity and flexibility for national, regional and international customers – producers, consumers, traders and other market players.
OTTCO represents the next generation of Oman’s diversified infrastructure. OTTCO focuses on leading technology, employment opportunities, environmental standards and a long-term sustainability plan of operations.
OTTCO exploits the geo-political value of Oman’s location and the strategic significance of Ras Markaz. Ras Markaz is located on Oman’s Indian Ocean coastline, 1000kms from the Straits of Hormuz, a potential choke point in the oil supply chain. Our location provides easy access to markets in South Asia, the Far East and Africa as well as land and sea access to producers in the Middle East.
Short & long term commercial storage. Strategic storage. Value-adding services including blending,making and breaking bulk. 24/7 operations.
Ras Markaz is aiming to become a crude hub comparable to international hubs.
OTTCO will provide centralised operations, maintenance and management. OTTCO’s wholly-owned facilities will sit alongside JV’s and sole venture storage. Shared infrastructure will provide OTTCO’s customers with advantages for their Capex, Opex and (operational) management.
Our values of transparency and trustworthiness are the cornerstones of all our relationships. We have a reputation for fairness, value and being a trusted long term partner. We adhere to recognised best practice for HSSE.
The Ras Markaz Crude Oil Park will provide world class oil storage infrastructure, supported by best-in-class service, connectivity and flexibility for regional and global customers. The project has been made possible by an experienced and talented management team that has a track record for delivery, with high quality technical support and engineering capabilities.
In addition to our own in-house expertise in engineering, business development, crude oil storage and project finance, our partner organisations bring with them knowledge in a wide range of fields including oil trading, downstream processing, maritime operations and energy transit & security.
Our onshore crude oil storage facility at Ras Markaz will be owned and operated by OTTCO. The purpose of the Crude Oil Park is to provide long and short term strategic and commercial storage options for our customers in a safe and secure location south of the Arabian Gulf and the Straits of Hormuz.
Pipeline connectivity with Oman’s Main Oil Pipeline and Duqm Refinery will mean that crude oil can be transferred to and from our facilities overland, as well from our offshore facilities, which will cater to all large tanker classes.
Phase 01 of the Ras Markaz Crude Oil Park will include tanks of different sizes, delivering a total storage capacity of up to 10 million barrels of crude oil. The storage facilities will be available to customers both importing and exporting oil, and will be accessible via pipelines to Duqm Refinery, from the interior and from Single Point Moorings at our offshore facility.
The offshore facilities will provide a versatile and flexible option for tankers travelling to or from any one of the world’s most important oil export and import markets. We will have the capacity to load and unload oil from Suezmax and VLCC tankers.
These dynamic new facilities will be an appealing option for a global oil trading community in need of both long- and short-term strategic - commercial storage solutions.
In addition to our strategic storage facilities, Ras Markaz’s 24/7 operating model will include a range of value-added services for customers. These will include blending, making bulk, pump overs and loading & discharge. By providing our customers with a diversified range of services, rather than a simple storage package, it is our aim to become one of the world’s leading crude storage hubs, comparable to Rotterdam and Singapore.
OTTCO will provide centralised operations, maintenance and management services at Ras Markaz. Our wholly owned facilities will be managed in conjunction with JV and sole venture storage. This shared infrastructure approach has been designed to provide leverage for Capex, Opex and operational management solutions.
Our leading partners in the Ras Markaz project include international and national oil companies, oil & energy ministries, trading & commodities companies, refineries, shipping companies and JV partners.
Our floating storage project at Mina Al Fahal in Muscat, Oman, has been conceived and developed by a highly qualified and experienced team, representing all of the project’s leading stakeholders – OTTCO, Petroleum Development Oman, Oman Shipping Company and Dubai Mercantile Exchange.
The floating storage team is comprised of professionals specialized in a wide range of fields including oil trading & markets, oil transit, maritime operations, security, ship-to-ship transfers, procurement, project finance, customs and Foreign Affairs.
OTTCO’s first floating storage facility will commission with one VLCC tanker, provided by the Oman Shipping Company, will be anchored close to Mina Al Fahal in Muscat. It will provides storage capacity for Oman Export Blend Crude Oil customers. The facility is the first of its type to be connected to an energy futures contract, and makes DME the first exchange in the world to incorporate floating storage at delivery point for its customers.
Our floating storage facility will provide customers with approximately 2 million barrels of crude oil storage. The VLCC will remains at anchor close to Mina Al Fahal, where Oman Export Blend is loaded and discharged from the vessel according to the requirements of our customers. Petroleum Development Oman has an important role in the scheduling and nomination for loading crude oil at Single Buoy Moorings (SBMs). Ship-to-ship transfers are executed by Fendercare Marine.
The floating storage concept is flexible and dynamic, giving our customers the option to store Oman Export Blend at a location that is easily and quickly accessed, allowing them to take full advantage of market fluctuations and conditions as they emerge.
OTTCO’s floating storage solution would not have been possible without the strong and ongoing support of the project’s leading partners. We are pleased to say that our successful collaboration with Petroleum Development Oman, Oman Shipping Company and Dubai Mercantile Exchange is an encouraging sign of things to come.
The continued support of the Ministry of Oil & Gas has also been instrumental in the success of the project.