MUSCAT: OQ, Oman’s global energy investment company, has become a driving force behind the rapid growth of the Special Economic Zone at Duqm (SEZAD), transforming it into one of the nation’s most dynamic engines of industrial and economic development. With cumulative investments exceeding $10 billion, OQ has built an integrated energy ecosystem in Duqm that spans refining, petrochemicals, storage, utilities and global trade — redefining Oman’s place on the international energy map.

OQ8: THE CORNERSTONE OF DUQM’S INDUSTRIAL FUTURE

At the heart of this transformation lies OQ8, a $9 billion joint venture between OQ and Kuwait Petroleum International (KPI). With a refining capacity of 255,000 barrels per day, OQ8 represents one of Oman’s largest and most advanced industrial assets. Since achieving full operations, it has exported more than 560 shipments to international markets without a single operational incident, underscoring world-class safety and reliability.

The refinery also completed its Lenders Reliability Test (LRT) on the first attempt within ten months, demonstrating exceptional technical performance and readiness for global competition. OQ8 has since positioned Duqm as a regional benchmark for efficiency, innovation and sustainable industrial operations.

RAS MARKAZ: OMAN’S ENERGY GATEWAY TO THE WORLD

Supporting OQ8’s operations, the Ras Markaz Crude Oil Storage Terminal — run by Oman Tank Terminal Company (OTTCO), an OQ subsidiary — has emerged as a vital global logistics hub. With a total storage capacity of 26.7 million barrels, including 5.2 million barrels dedicated to OQ8, the terminal connects to the refinery through an 80-km pipeline.

Since beginning operations in 2023, OTTCO has handled more than 176 million barrels of crude oil via 98 vessels, placing Duqm at the crossroads of regional and global energy trade. OTTCO has also forged major partnerships — with Royal Vopak of the Netherlands to create a unified energy storage and export platform, and with Iraq’s State Oil Marketing Organisation (SOMO) to develop a new integrated storage project at Ras Markaz. These alliances will further position Oman as a logistics and energy hub of international significance.

OQ TRADING: LINKING DUQM TO GLOBAL MARKETS

Completing OQ’s value chain is OQ Trading (OQT), the Group’s marketing and trading arm that manages the sale of OQ8 products and oversees global energy flows. Operating from Muscat, London and Singapore, OQT enhances the competitiveness of Omani oil and petroleum products while strengthening Oman’s energy footprint across Asia, Europe and Africa.

Through strategic supply chain management and trading expertise, OQT integrates Duqm’s production, storage and export activities into a seamless commercial system that translates operational efficiency into tangible national value.

MARAFIQ: POWERING INDUSTRIAL GROWTH SUSTAINABLY

Among OQ’s key Duqm investments, Marafiq plays a crucial role as the utilities backbone of SEZAD. It operates a 326 MW gas turbine power plant and a 36,000 m³/day desalination plant, ensuring uninterrupted energy and water supply to OQ8 and neighbouring industries.

Since commercial operations began in March 2024, Marafiq has achieved 100% operational readiness, delivering over 85 GWh of electricity and 710,000 m³ of water. The company is also building seawater intake facilities with a capacity of 1.4 million m³/day. Meanwhile, OQ Gas Networks (OQGN) supports Duqm’s industries through an 80-km gas pipeline with a capacity of 25 million m³/day, ensuring consistent energy supply for future expansion.

BOOSTING LOCAL ECONOMY AND IN-COUNTRY VALUE

Beyond infrastructure, OQ’s investments have delivered broad economic and social benefits. Between January 2024 and June 2025, OQ and its partners generated $1.57 billion in In-Country Value (ICV), with over $1 billion spent locally — equivalent to 64% of total expenditure. Spending on SMEs exceeded $36 million, while $24 million was channelled to companies registered under Riyada, Oman’s authority for small business development.

This strong local participation reflects OQ’s commitment to strengthening domestic supply chains, nurturing entrepreneurship and aligning with Oman Vision 2040 goals of economic diversification and industrial sustainability.

NEW MILESTONES AHEAD

Looking ahead, OQ continues to expand Duqm’s energy ecosystem. During the Duqm Economic Forum 2025, OTTCO and Royal Vopak are set to formalise a joint venture (51% OTTCO, 49% Vopak) to develop and operate new integrated storage facilities for energy products. This will further position Duqm as a regional trading hub and a model for sustainable energy transition.

Additionally, OQ will inaugurate the Oman Oil Top Loading Station, the first of its kind in Duqm, featuring a state-of-the-art top-loading system and biodiesel supply operations managed by an Omani SME.

SHAPING OMAN’S SUSTAINABLE FUTURE

Through a network of interconnected investments and partnerships, OQ has enabled Duqm’s rise as a global industrial and logistics powerhouse. By driving innovation, supporting local enterprises and ensuring operational excellence, OQ continues to shape a diversified, resilient and future-ready Omani economy — one built on sustainability, knowledge and shared national progress.

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