Mubasher: Oman Gas Company signed deals worth $820 million with the Ministry of Oil and Gas for the right to build, own, and operate liquid petroleum gas (LPG) extraction utilities, according to a statement.
The Omani company also signed a marketing agreement with Oman Trading International Company, as well as with Salalah Free Zone Company allocating approximately 20 hectares for the project at the Salalah Free Zone, according to the company’s official Twitter account.
Additionally, the gas company signed a lease agreement with Salalah Port Services to allocate around 8 hectares of space at the Salalah Port in Dhofar for LPG export facilities, as well as deals worth $640 million with other financial institutions.
The project is expected to produce about a 300,000 tonnes of liquefied gas, and to reach an annual income of $200 million.
The company witnessed a 39% plummet in profits in the first quarter of 2017 reaching OMR 804,440 from OMR 1.32 million in Q1-16.
