Orpic to invest US$3 bln in Sohar Steam Cracker and PE project

23-Apr-13

Oman Oil Refineries and Petroleum Industries Company (Orpic) plans to set up a steam cracker and Polyethylene plant at the Port of Sohar with an investment of around US$3 bln. The Omani major is also pursuing plans of a major upgrade of its existing refinery at Sohar, and a pipeline project linking its Sohar and Mina al Fahal refineries. In total, Orpic will invest an estimated US$5 bln in investments in these ventures. The US$1.5 bln project will upgrade the Sohar Refinery to produce 70% more. As per the CEO Musab al Mahrouqi, “Project Sindbad is our internal codename for our steam cracker and polyethylene plant that will cost about $3 billion. Around 50% of the feedstock for this project will come from the refinery, while the rest will be gas. We are now working with the parties concerned, notably the Ministry of Oil and Gas, to get the allocations we need. This project will be ready (by 2018) if we get the support we require.”