Bukha - The global integrated energy group OQ has officially laid the cornerstone for its strategic fuel tanks project, committing an investment exceeding RO78 million, or approximately $204 million, within the Wilayat of Bukha in the Musandam Governorate.
The ceremony was graced by the presence of Sayyid Ibrahim bin Saeed Al Busaidi, the Governor of Musandam, alongside several officials and dignitaries from the governorate.
This initiative aligns with OQ Group's commitment to fostering sustainable economic development and meeting the escalating demand for petroleum products, attributed to population growth and the surge in commercial and investment activities.
Furthermore, the project is designed to address emergency situations by accommodating storage for 91 and 95 cars of fuel, diesel, and jet fuel, thereby ensuring the uninterrupted supply chain. The station's storage capacity, which exceeds 14,536 cubic meters of petroleum derivatives, is a testament to its comprehensive approach.
Governor of Musandam emphasized the significance of the fuel tanks project in meeting the petroleum derivatives needs of the governorate, safeguarding against emergencies, and fulfilling the petroleum product requirements of the citizens and residents. He highlighted the project as a substantial contribution from OQ Group, underscoring its support for investments in the governorate and its commitment to serving the local communities.
Eng. Salem bin Nasser al Aufi, the Minister of Energy and Minerals, noted that the foundation stone laying ceremony for the strategic fuel tanks project in Musandam Governorate is part of the Ministry's collaborative efforts with OQ Group to cater to the citizens and residents' petroleum derivatives needs and ensure their availability during emergencies. He acknowledged the increasing local demand for petroleum products, attributed to population growth and commercial activities, as a driving force behind this initiative.
Ashraf bin Hamad al Mamari, the Chief Executive Officer of OQ Group, has announced that the project represents a significant investment for the group and its affiliated companies, with a total investment exceeding RO800 million.
This initiative underscores OQ Group's dedication to fulfilling its role and national obligations in fostering sustainability within the energy sector and addressing the burgeoning demands of the sector within the Musandam Governorate.
The contract for this project was finalized in April of this year, marking the commencement of detailed engineering and construction activities in September. The project is projected to be operational by October 2026, with a trial operation scheduled for December 2026, followed by its completion in April 2027.
The project incorporates a 35 percent Omanization policy, with 20 percent of the necessary materials and services sourced from local companies, and 7 percent from small and medium enterprises. Additionally, the project will provide training opportunities for 12 male and female trainees.
It is important to highlight that the station, spanning an area of approximately 100 square meters, will feature various essential components, including tanks, a warehouse, a control room, a pump area, a truck loading zone, and fire and safety facilities. The project, which is set to be completed in 36 months, encompasses both engineering and construction phases until operational readiness.
Furthermore, the project will incorporate a product-receiving platform linked to a pipeline at a depth of approximately 39 meters, powered by renewable energy sources such as solar and wind. This pipeline will be divided into two sections, each measuring 12 inches in diameter and spanning two kilometers. The facility will also include a parallel fiber optic line to the pipeline.
