OQ, the global energy investment company, continues to strengthen its strategic presence in the Special Economic Zone at Duqm (SEZAD), one of Oman’s most vital engines of industrial growth. Guided by an integrated, future-focused vision, OQ’s investments span the entire energy value chain from infrastructure development to downstream petrochemicals, redefining Oman’s position on the global energy map and cementing Duqm’s role as a world-class industrial hub.

With cumulative investments exceeding $10billion, OQ stands among the largest investors in Duqm. Its diverse portfolio covers refining, petrochemicals, storage, and export facilities, all forming a unified ecosystem that supports Oman’s economic diversification and long-term industrial development. OQ’s vision reflects a deep national commitment to building a balanced, knowledge-driven economy rooted in innovation and sustainability.

Duqm Refinery (OQ8): The Cornerstone of an Industrial Ecosystem

A joint venture between OQ and Kuwait Petroleum International (KPI), OQ8 represents one of Oman’s largest industrial assets, with a total investment exceeding $9billion and a processing capacity of 255K Bpd. OQ8 marked the beginning of OQ’s growth journey in Duqm, combining operational efficiency and development vision.

Since it reached full operational status, OQ8 has exported over 560 product shipments to international markets without a single operational incident, reflecting world-class safety and reliability standards. It also completed the Lenders Reliability Test (LRT) on the first attempt, within just ten months, demonstrating its readiness and global competitiveness.

Ras Markaz: Oman’s Energy Gateway to the World

Complementing the refinery’s operations, Ras Markaz Crude Oil Storage Terminal, operated by Oman Tank Terminal Company (OTTCO), an OQ subsidiary, serves as a major hub for crude storage and export. The terminal has a total capacity of 26.7 million bpd, including 5.2 million bpd dedicated to OQ8, and is linked directly to the refinery via an 80-km pipeline.

Since commencing operations in 2023, OTTCO has handled over 176 million bpd of crude oil via more than 98 vessels, positioning Duqm at the crossroads of regional and global energy trade routes. OTTCO has also forged strategic partnerships with international players, including Royal Vopak (Netherlands) to establish a unified energy storage and export platform, and Iraq’s State Oil Marketing Organization (SOMO) to develop an integrated storage project in Ras Markaz to further strengthen Oman’s position as a global logistics and energy hub.

OQ Trading: Connecting Production with Global Markets

Completing the Duqm value chain is OQ Trading (OQT), the trading arm of the Group, responsible for marketing and selling OQ8 products and managing energy flows from Oman to global markets.

Operating from trading hubs in Muscat, London and Singapore, OQT has expanded Oman’s footprint in the global energy market, enhancing the competitiveness of Omani oil and petroleum products while growing its customer base across Asia, Europe, and Africa. Leveraging its expertise in international trade and supply chain management, OQT plays a pivotal role in integrating Duqm’s production, storage and export operations into a seamless commercial ecosystem that transforms operational efficiency into lasting economic value and reinforces Oman’s role as a regional energy trading powerhouse.

Marafiq: A Utility Backbone Enabling Sustainable Industrial Operations

At the heart of Duqm’s integrated industrial system, Marafiq, one of OQ’s key investments in SEZAD, stands as a model of efficiency in industrial utilities management. The company operates a state-of-the-art 326 MW gas turbine power plant and a 36,000 m³/day water desalination plant, supplying reliable utilities to OQ8 and the surrounding industrial area.

Since commencing commercial operations in March 2024, Marafiq has achieved 100% operational readiness, delivering more than 85 GWh of electricity and 710 thousand m³ of water sustainably without interruption. The company is also investing in seawater intake facilities with a capacity of 1.4 million m³/day.

Complementing these efforts, OQ Gas Networks (OQGN) operates the Duqm Gas Supply Station, which is connected to an 80-km pipeline with a daily capacity of 25 million m³, ensuring continuous energy supply to major industries and supporting the long-term sustainability of SEZAD’s industrial operations.

Economic and Social Impact

With every investment, Duqm’s transformation grows into a national success story, one shaped by the participation of SMEs, Omani talent and the broader community. Between January 2024 and June 2025, the In-Country Value (ICV) generated by OQ and its partners in Duqm exceeded $1.57 billion, with the local spend surpassing $1 billion (64% of total expenditure). This reflects OQ’s deep-rooted commitment to strengthening local supply chains and fostering collaboration with national enterprises.

SMEs spend exceeded $36 million, while over $24 million was directed toward companies registered under Riyada, highlighting OQ’s pivotal role in promoting entrepreneurship and enhancing the production capacity of local suppliers.

This focus on local content reflects OQ’s efforts to strike a balance between operational efficiency and national economic growth, in alignment with Oman’s industrial and energy sustainability and localisation goals.

The impact, however, extends beyond economy into education, environment and community development, transforming Duqm into a model of inclusive growth that balances production, growth and knowledge.

New Milestones Boosting Duqm’s Growth Journey

Duqm’s industrial journey continues with new initiatives reinforcing its role as a catalyst for sustainable growth and a hub for energy innovation.

The Duqm Economic Forum 2025 will witness the signing of a new joint venture agreement between OTTCO (51%) and Royal Vopak (49%) to develop and operate integrated storage facilities for energy products, strengthening Duqm’s position as a regional energy trading hub and supporting the global transition toward interconnected and sustainable energy systems.

OQ will also inaugurate the Oman Oil Top Loading Station, the first of its kind in Duqm. The facility introduces a safe top-loading system and supplies biodiesel, operated by an Omani SME following the highest safety and environmental standards.

Enabling Transformation and Shaping a Sustainable Future

Through this integrated ecosystem of investments, partnerships and industrial infrastructure, OQ is helping shape a new economic reality for Duqm and Oman, one built on collaboration, innovation, and long-term impact. As a national energy leader, OQ continues to enable transformation through tangible achievements and forward-looking investments, serving as a key partner in building a diversified, resilient and sustainable economy that reflects Oman’s ambitions and drives its progress toward a confident, future-ready tomorrow.