Oman Oil Company and its subsidiary, Takamul Investment Company, has set up a new enterprise that will build, own and operate (BOO) an oil terminal at Ras Markaz in the Al-Wusta region of Oman.

The terminal will be the largest in the Middle East and have a capacity of 200 million barrels of oil. The scope of works will include a 440-kilometre pipeline that will be constructed between the terminal and Nahada. As part of the agreement, the company will also develop strategies to store crude oil in Oman.