OQ Group invests OMR800mn in Musandam energy projects

Oman Saturday 20/January/2024 19:12 PM
By: ONA
OQ Group invests OMR800mn in Musandam energy projects

Khasab: OQ, the global integrated energy group, is making significant strides in Musandam Governorate with three major energy sector projects valued at approximately OMR800 million.

These projects include the Musandam Gas Plant, the management of offshore fields in Concession Area 8 and the Musandam Power Plant.

The Musandam Gas Processing Plant, located in Concession Area 8 and owned by OQ, plays a pivotal role in the region’s energy infrastructure. Utilising gas for power generation, it supports the energy needs of the Governorate.

Additionally, OQ efficiently operates the offshore fields in Concession Area 8, owned by the Ministry of Energy and Minerals. Since initiating the oil and gas production operations in January 2019, OQ has focused on enhancing operational efficiency, increasing production and reducing operational costs. The area includes the Bukha and West Bukha fields, essential for supplying the Musandam Power Plant.

The plant provides vital electricity to the governorate with a production capacity of about 120 megawatts per hour.

Parallel to these endeavours, OQ, in collaboration with the Office of the Governor of Musandam, is executing a number of social investment projects across the governorate’s wilayats. Valued at around OMR4 million, these initiatives focus on urban, environmental and tourism aspects, reflecting OQ’s commitment to social responsibility and serving local communities.

The projects being implemented, in collaboration with various governmental entities, include a diverse array of significant developments. These include the Daba Archaeological Centre, developed in partnership with the Ministry of Heritage and Tourism; the Daba Waterfront Project; the development of Telegraph Island; the Basah Beach project, undertaken with the Omran Group; the enhancement of Madha Park; the Bukha Waterfront development; and the establishment of the Musandam Science and Innovation Centre. This latter project is a collaborative effort involving the Ministry of Energy and Minerals, the Ministry of Education, the Ministry of Culture, Sports and Youth, and a group of oil and gas companies operating in Oman, along with Oman Sail.

These initiatives effectively enhance the region’s natural charm while bolstering the services sector and the tourism industry.

Their design focuses on harmoniously blending aesthetic improvements with practical benefits, while placing a strong emphasis on the sustainable impact of the completed and current projects. OQ Group is committed to building strong relationships with stakeholders and creating new employment opportunities for growth and partnerships.

Through careful planning and execution of projects, the group contributes significantly to the social and economic development goals of the Sultanate of Oman.