Barcelona - Oman Oil Company SAOC announced this week, the signing of an agreement with Gas Natural to acquire its entire 5% interest in Enagas, Spain's leading natural gas transportation, regasification, and Storage Company.
The agreement was signed by Ahmed Al-Wahaibi CEO of Oman Oil Company and Mr. Rafael Villaseca CEO of Gas Natural. The agreement is subject to the approval of the regulatory authorities in Spain.
Commenting on this occasion, Ahmed Al-Wahaibi said, "We are proud to announce this latest acquisition by Oman Oil Company, which comes in line with the Company's strategy to grow its investments internationally. Enagas is a reputable company with a strong track record and promising growth potential. The acquisition of a stake in Enagas is in line with our efforts to diversify our investment portfolio between Omani and international assets".
Enagas is Spain's leading natural gas transportation, regasification and storage company, and also is the Technical Manager of the Gas System in Spain. Its facilities include over 8,000 km. of high-pressure gas pipeline and three regasification plants. These plants have a total production capacity of 4,350,000 m³/hr, and a total storage capacity of 1,437,000 m³ of LNG. Enagás also owns underground natural gas storage facilities.
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Oman Oil Company SAOC, a company wholly owned by the Government of the Sultanate of Oman, ("OOC"). The company was established in 1996 to give the Government another vehicle for pursuing investment opportunities in the energy sector both inside and outside Oman. The Oman Oil Company managed, in a relatively short period of time, to contribute to the development of many important projects in energy and energy related areas. Through this participation, OOC plays a key role in the Sultanate's efforts to diversify the Omani economy and help generate Omani and foreign private sector investment. The strategy of OOC is to seek diversity while expanding its income base and continuing to explore new long-term opportunities local and international investments of OOC include more than 30 projects covering areas of exploration and production of petroleum, infrastructure projects, petrochemicals, transport, energy and other projects of refining and marketing of oil as well as mining.
© Press Release 2009
