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  • 17-04-19

    Oman Oil, Orpic Group seeks investment projects worth over USD28B

    (MENAFN) Integrated Oman Oil and Orpic Group will invest more than USD28.3 billion over the next few years on achievement of several upstream and downstream ventures taken by the group, a senior company official stated on Tuesday.

    While delivering a keynote address at the second day of the third edition of Oman Downstream Exhibition & Conference (ODEC), prearranged by Omanexpo and World Refining Association (WRA), Ahmed al Jahdhami, chief executive officer, downstream at Oman Oil Company and Orpic Group , emphasized that the two groups put together have earmarked USD28.3 billionn for implementation several ventures both in upstream and downstream sector. Some of these projects are continuing, while the work on some did not begin yet.

    The ODEC event, which is occurring at Oman Convention & Exhibition Centre, kicked off on Monday and will end today.

    Jahdhami, however, affirmed that maximum investments would be made on downstream ventures only, and these investments will be made through a mix of debt, fairness and involvement from other partners.

    MENAFN1704201900450000ID1098401452

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