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Issue 3 2020 - Oman Petroleum merges with Orpic Group

 Last Update: 2022-11-11
 Source: Internet
 Author: User

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Oman Oil and Epic Group Recently, Oman Oil and Epic Group announced that they are in the process of business integration to form an upstream and downstream integrated company, the new name of the company is OQ
.

The combined company's chief executive, Musab bin Abdullah Al-Marooqi, said OQ Group plans to increase the total oil equivalent under its management from 655,000 b/d to 1 million b/d and drive the value of oil under management to $25 per barrel
.
OQ Group plans to invest $28 billion in future growth projects, of which $18 billion will be spent on the Duqm refinery and future petrochemical projects
.
The group also plans to develop new businesses, including alternative energy, gas management and retail
.

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