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Oman Business News

Oman Oil and Orpic Group soon to inaugurate $2.7 billion SRIP

The Oman Oil and Orpic Group will officially inaugurate one of its strategic growth projects, the Sohar Refinery Improvement Project (SRIP) under the auspices of Dr Mohammed bin Hamad al Rumhy, Minister of Oil and Gas, Chairman of the Board of Directors, on March 31, 2019.

The $2.7 billion investment project is all set to enhance the Group assets value, further maximise the value of Omani crude oil, and meet the increasing demand for oil and refined products locally and internationally in order to support the economic development of the Sultanate.

The Sohar Refinery Improvement Project adds five new units, improving Sohar Refinery’s ability to process heavier Omani crude oil including Crude Distillation Unit (CDU), Vacuum Distillation Unit (VDU), Delayed Coker Unit (DCU), Hydrocracker Unit (HCU) and Bitumen Blowing Unit. These units are vital to handle heavy crude more efficiently, which increase the performance, production and lower emissions.

The project will contribute to create economic benefits to the government and local businesses, as well as generate approximately 300 permanent jobs, 900 indirect jobs and generate huge In Country Value (ICV) opportunities to local Oman SMEs and businesses and the made in Oman goods. It is worth to mention that the Sohar Refinery Improvement Project has achieved a total of 74.4 million man-hours without Loss Time Injury.

The project has achieved In Country Value of $720 million, with more than 300 projects have been allocated to the local SMEs.
  • Oman Oil
  • Orpic Group
  • Strategic Growth Projects
  • Sohar Refinery Improvement Project
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