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Refinery Construction Deal Signed Between Abu Dhabi and Oman

Middle East : 23 April 2011

The International Petroleum Investment Company (or the IPIC) made a recent announcement regarding the deal signed between their firm and the Oman Oil Company (or the OOC) to construct petrochemical plants and refineries.

This cooperative agreement will lead to more financing in oil and gas projects, as well as those focusing on petrochemicals. Industry knowledge and expertise will also be readily exchanged.

IPIC’s managing director, Khadem al Qubaisi, and OOC’s chief executive officer Ahmed Al Wihaibi penned the agreement, according to the state news reporters at WAM.

Al Qubaisi noted his hope is that this agreement will create new opportunities for joint investments to be made both in the local and international arena.

He also stated that the projects resulting from this joint partnership would provide career opportunities for citizens of Oman and Abu Dhabi, as well as the UAE as a whole.

OOC’s chairman Nasser bin Khamis Al Jashemi stated that the partnership would see both organizations involved in the refinery construction, as well as the development of petrochemical plants and the sharing of knowledge and technology, although he did not elaborate further.

Paul Holdsworth, Staff Writer, Gulf Jobs Market News
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