Oman Oil Company (OOC) has secured a partnership agreement with Gulf Energy Development Public Company to develop a gas-fired power and water project at the Special Economic Zone (SEZ) in Duqm.
The proposed Duqm independent water and power project (IWPP) will have a power generation capacity of 326MW and a desalination capacity of 8 million imperial gallons a day (MIGD). The project will require a total investment of $483mn, reported MEED.
OOC subsidiaries will hold a 55% equity interest in the plant, with the Thai utility holding the remaining 45%.
Representing OOC’s interests in the project company are the Centralised Utilities Company (Marafiq) and Oman Oil Facilities Development Company (OOFDC), holding stakes in the project company of 51.1% and 3.9% respectively.
The offtaker for the produced utilities will be the Duqm refinery, which is being developed for a total cost of about $7bn, reported MEED.
OOC is a 50% shareholder in the 230,000 barrels-a-day refinery, with Kuwait Petroleum International (KPI) holding the other 50 per cent.