Ras Markaz offers crude oil storage services through the Oman Tank Terminal Company (OTTCO), a subsidiary of the Oman Oil Company, to provide strategic, long-term, and short-term commercial storage. Located away from the Strait of Hormuz, it aims to be a global hub for oil storage, blending, and export in the Arabian Sea and Indian Ocean zones. Services include receiving VLCCs via a floating terminal and pipeline network, storing crude in a large park of tanks, and exporting products via subsea pipelines.

Ras Markaz Terminal Receives More Than 22 Crude Oil Shipments Duqm, 4 Feb (ONA) --- The oil storage terminal at Ras Markaz in the Wilayat of Duqm, managed by OmanTank Terminal Company (OTTCO), is a vital project that targets the storage of all types of crude oil in large quantities outside the Strait of Hormuz. This allows international companies to store their oil at the terminal for any period—short or long term. The terminal is distinguished by its strategic location in the vicinity of emerging markets—notably in Asia and Africa.

The terminal, which occupies an area of 40 square kilometres, can store about 200 million barrels of oil. The terminal was linked to Duqm Refinery via an 80-km pipeline through which crude oil is transported from Ras Markaz to the refinery. The oil storage facilities include 8 huge oil storage tanks, floating tanks for importing and exporting oil and 7 km-long submarine pipelines to receive and export oil and a station for pumping oil into tanks, in addition to monitoring and control rooms, administrative offices and other facilities related to security and safety equipment. The facility boasts capacities for mixing different types of crude oil, loading and unloading ships in record times and saving logistical costs.

Oman’s Ras Markaz crude oil storage and export terminal has received its first shipment of oil, NOC OQ announced on Tuesday. Basic construction of the first phase of development was completed in December 2022, with a capacity of 26.7 million barrels. The asset is strategically located in the Al Duqm region and provides alternative storage and export options along the Strait of Hormuz. It will also provide for the upcoming 230,000-bpd Duqm refinery via an 80-kilometres pipeline, which is also expected to be commissioned in Q1 2023. Eight of the storage terminal’s tanks are dedicated to the refinery, which is located in the Special Economic Zone at Duqm.