Oman Tank Terminal Co. and Occidental Petroleum have agreed to store crude at the planned Raz Markhaz oil terminal. A deal between the companies covers up to 2 million barrels of Oxy’s crude according to S&P Global Platts.

OTTCO is finalising the EPC for the 25 million barrel terminal being built, with phase one due for completion by 2019. 

The Raz Markhaz development site has a potential land space of 1,252 hectares which could see up to 200 million barrels of crude storage above ground and a similar amount below ground.

The terminal will include two moorings to accommodate large carriers 50 km offshore. A second phase will include three more SPMs, one of them to serves Ultra Large Crude Carriers.

It will be connected by two pipelines to inland tank farms, SPM facilities and the new refinery. The 400 km pipeline from the oil fields would be able to carry 100% of Oman’s current crude exports.

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Source S&P Global Platts

9th October 2017

9th October 2017