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Oman and Abu Dhabi Form Joint Venture to Build Duqm Refinery and Petchems Complex
8:44 AM MDT | June 26, 2012 | Natasha Alperowicz
Government-owned Oman Oil Company (OOC; Muscat) and International Petroleum Investment Company (IPIC; Abu Dhabi), owned by the government of Abu Dhabi, have announced the formation of a joint venture company to own and manage the development of a refinery and petrochemical complex at Duqm on the east coast of Oman. The new, equally owned company, Duqm Refinery and Petrochemical Industries LLC expects to begin production in 2017. Oman has been trying to attract partners for the project for several years. The refinery, which forms the first phase of the project, is...
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