October 28, 2025 [Omanet]- OQ, Oman’s leading global energy investment company, is playing a pivotal role in the rapid development of the Special Economic Zone at Duqm (SEZAD), positioning it as a significant driver of industrial and economic growth in the nation. With cumulative investments exceeding$10 billion, OQ has established a comprehensive energy ecosystem in Duqm that encompasses refining, petrochemicals, storage, utilities, and global trade, redefining Oman’s status on the international energy landscape.
Central to this transformation is OQ8, a$9 billionjoint venture between OQ and Kuwait Petroleum International (KPI). Featuring a refining capacity of255,000 barrels per day, OQ8 stands as one of Oman’s largest and most sophisticated industrial assets. Since commencing full operations, it has successfully exported over560 shipmentsto international markets without any operational incidents, highlighting its commitment to safety and reliability.
The refinery completed its Lenders Reliability Test (LRT) on its first attempt within ten months, showcasing exceptional technical performance and readiness for global competition. OQ8 has effectively established Duqm as a regional benchmark for efficiency, innovation, and sustainable industrial practices.
Supporting OQ8’s operations, the Ras Markaz Crude Oil Storage Terminal, managed by Oman Tank Terminal Company (OTTCO) — a subsidiary of OQ — has emerged as a crucial global logistics hub. With a total storage capacity of26.7 million barrels, including5.2 million barrelsdesignated for OQ8, the terminal is linked to the refinery via an80-km pipeline.
Since starting operations in2023, OTTCO has handled over176 million barrelsof crude oil through98 vessels, positioning Duqm at the intersection of regional and global energy trade. OTTCO has forged significant partnerships, notably with Royal Vopak of the Netherlands, to create a unified energy storage and export platform, as well as with Iraq’s State Oil Marketing Organisation (SOMO) to develop a new integrated storage project at Ras Markaz. These collaborations further enhance Oman’s status as a logistics and energy hub of international repute.
Completing OQ’s value chain, OQ Trading (OQT) serves as the Group’s marketing and trading arm, managing the sale of OQ8 products and overseeing global energy flows. Operating from Muscat, London, and Singapore, OQT boosts the competitiveness of Omani oil and petroleum products while strengthening Oman’s energy presence across Asia, Europe, and Africa.
By leveraging strategic supply chain management and trading expertise, OQT integrates Duqm’s production, storage, and export activities into a cohesive commercial system, translating operational efficiency into substantial national value.
Among OQ’s key investments in Duqm, Marafiq serves as the essential utilities backbone of SEZAD. It operates a326 MWgas turbine power plant and a36,000 m³/daydesalination plant, ensuring a reliable supply of energy and water to OQ8 and adjacent industries.
Since commencing commercial operations inMarch 2024, Marafiq has achieved100% operational readiness, delivering over85 GWhof electricity and710,000 m³of water. The company is also in the process of constructing seawater intake facilities with a capacity of1.4 million m³/day.
Additionally, OQ Gas Networks (OQGN) aids Duqm’s industries with an80-km gas pipelinewith a capacity of25 million m³/day, guaranteeing a consistent energy supply for future growth.
Beyond infrastructure development, OQ’s investments have yielded significant economic and social benefits. BetweenJanuary 2024 and June 2025, OQ and its partners generated$1.57 billionin In-Country Value (ICV), with over$1 billionallocated for local expenditures — accounting for64%of total spending. Investments in small and medium-sized enterprises (SMEs) exceeded$36 million, while$24 millionwas directed towards companies registered under Riyada, Oman’s authority for small business development.
This strong local engagement underscores OQ’s commitment to enhancing domestic supply chains, fostering entrepreneurship, and aligning with Oman Vision 2040 goals centered on economic diversification and industrial sustainability.
Looking to the future, OQ is poised to further expand Duqm’s energy ecosystem. During the Duqm Economic Forum 2025, OTTCO and Royal Vopak plan to formalize a joint venture (with51% ownership to OTTCO and 49% to Vopak) to develop and operate new integrated storage facilities for energy products. This initiative will reinforce Duqm’s position 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.
Through a network of interconnected investments and partnerships, OQ has catalyzed Duqm’s emergence as a global industrial and logistics powerhouse. By fostering innovation, supporting local enterprises, and ensuring operational excellence, OQ continues to craft a diversified, resilient, and future-ready Omani economy — one built on sustainability, knowledge, and shared national progress.
