Oman is currently working on building the world largest refinery project, which will be called Duqm. It will be operational in the first quarter of 2023 and have a capacity of approximately 230 000 bpd. In order to lessen the country's reliance on oil imports, plans are also in place to construct a pipeline to the Strait of Hormuz. Additionally, there are plans to build LPG "bullet" storage tanks, which should result in the creation of 700 new jobs.
A second oil refinery is being planned for Duqm by the Omani government. The processing capacity for this project will be 230,000 barrels per day on a global scale. It will be constructed in the country of Oman along the eastern shore of the Arabian Sea.
An industrial city, a brand-new airport, and hotels will all be a part of the Special Economic Zone of Duqm, or SEZ. Over the next 15 years, the special economic zone will produce $15 billion.
Chinese investment has been a major force in the development of the Duqm project. For the project, financing totaling more than USD3.2 billion has been arranged. A Korean delegation spoke with Omani government officials in September about the potential contribution of transportation infrastructure to the growth of the industrial city.
The sultanate of Oman is investing strategically in the Duqm oil refinery project. The petrochemicals powerhouse project, which is situated in the port city of Duqm, is anticipated to have a capacity of over 230,000 barrels of oil per day. The refinery will generate jobs and strengthen the local economy, making it an important project in terms of its advantages for the community's economy and social structure. It will also play a significant role in the region's energy infrastructure. At the Larsen & Toubro (L&T) Oman facility in Sohar, a total of nine enormous LPG storage tanks are being constructed.
One of the biggest such construction projects in the Middle East is the one mentioned above. By 2020, the aforementioned oil refinery is anticipated to be operational.
A significant bottleneck for the movement of oil through the Middle East is the Strait of Hormuz. For oil exports from the Gulf nations to Western Europe, it is the only sea route. Every day, dozens of oil tankers pass through the Strait. Although there haven't been many incidents so far, there are still significant dangers to its continued operation.
Iran, the second-largest exporter of oil and gas worldwide, has the ability to close the Strait. It now has the ability to use missile forces to attack ships in the Gulf and has a large collection of sea mines that could obstruct the passage of tankers. Iran is also attempting to create a cross-border energy corridor.
Although a significant incident is unlikely, war is still a possibility. The marine environment, as well as the local human, animal, and plant species, are at grave risk from this threat.
The duqm refinery project oman in the Arabian Gulf is undergoing a new project, which the Omani government recently announced will result in the creation of 700 jobs in the construction sector. This is a component of the Vision 2040 plan. Oman wants to develop a number of new industries and diversify its economy. The government has started a program with 130 projects to accomplish this. Fisheries, mining, tourism, and energy are a few of these.
The first phase of the program, according to Jasim Hassan Al Ajmi, chief corporate sustainability officer at the Duqm refinery, aimed to give jobs to Omani citizens. Indicators, he said, point to the program's objectives being accomplished in the upcoming months.
Sebacic acid production from the project is expected to reach 30,000 tons annually. Sebacic acid is highly sought after worldwide and used in the manufacture of biodegradable plastics.
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