Oman Oil, Orpic Group Officially Launches SRIP

Sohar, Oman Oil and Orpic Group has officially

launched one of its strategic growth projects; the Sohar Refinery

Improvement Project (SRIP), under the patronage of Dr. Mohammed

bin Hamad al-Rumhy, Minister of Oil and Gas, Chairman of the Oman

Oil and Orpic Group.

The USD 2.7 billion worth project is one of the key building

blocks of the Group’s investment assets as it is contributing to boost its

crude oil processing capacity by 82,000 barrels per a day, increasing

the total capacity of the Sohar Refinery from 116,000 barrels per day to

198,000 barrels a day.

Dr. al-Rumhy pointed out, “The project represents an economic

and strategic importance for the refinery sector and the petroleum

industries in the Sultanate. It reflects the untiring efforts exerted by the

Group and its contribution to the economic and investment

development of the Sultanate, as well as the commercial return

achieved by the project, which will have a positive impact on many

important areas related to the national economy, particularly

maximizing the in country value opportunities, creating more jobs and

supporting small and medium enterprises”.

On his part, Mus’ab bin Abdullah al-Mahrouqi, Chief Executive

Officer (CEO) of Oman Oil and Orpic Group said that the project to

improve the Sohar Refinery comes in response to a number of factors,

the most important of which are the changes in the characteristics of

Omani crude oil and the increasing demand for petroleum products in

the Sultanate.

Al-Mahrouqi said that the Sohar Refinery Improvement Project

reinforces the Group’s aspirations to manage 1 million barrels of oil

equivalent per day, in addition to raising the value added of at least RO

9.6 per barrel in the downstream industries managed by the Group in

line with the Sultanate’s vision and direction to handle crude oil more

effectively to maximize the return from it.

Ahmed bin Saleh al-Jahdami, Chief Executive Officer (CEO) of

Downstream at Oman Oil and Orpic Group, said: “The project reflects

the clear vision, sound planning and excellence in implementation at

all levels and stages of the work through the national capacities that

have worked and formed the main success pillar of this project. This

will enhance the empowerment of these national capacities to continue

the work and transfer of knowledge at the level of the Group’s projects

in general and the downstream projects in particular”.

Source: Oman News Agency