Oman strategic partnership

Vol 16, PW 1 (26 Jul 12) News in Brief
     

Arab sultanate Oman might one day provide strategic oil supplies to India in return for technical expertise.

Oman Oil Company wants to build a 157m barrel capacity strategic oil storage facility in the coastal Mina al Fahal region near Muscat. Oman Oil project director Martijn Notten spoke to oil ministry joint secretary Vivek Kumar on July 12 by phone, seeking support from state-owned Indian Strategic Petroleum Reserves (ISPRL).

“ISPRL is building storage facilities at Vizag, Mangalore and Padur,” says a ministry source. “Oman is attracted by ISPRL’s experience.

” ISPRL, set up to ensure energy security, is interested as it must keep 90 days of oil reserves ready to replace disrupted imports, or source emergency supplies from a nearby country. Oman is expected to complete a DFR on its proposed facility by end-2012, to complete a FEED study by end-2013, and to hire EPC contractors by June 2015.

It wants to commission the first 85m barrel unit by end-2016.