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FINANCIAL NEWS
IPIC, Oman Oil sign co-operation agreement
23 Apr 2011
(MENAFN) Omani Oil and Gas Ministry Undersecretary and Oman Oil Company (OOC) Chairman, Nasser bin Khamis Al Jashmi, stated that the company signed a co-operation agreement with the International Petroleum Investment Company (IPIC) on investment projects in the sectors of oil, gas and petrochemicals, reported Times of Oman.
Al Jashmi also said that the deal was signed at the city of Abu Dhabi and was attended by UAE Deputy Prime Minister and Presidential Affairs Minister, IPIC Chairman, Sheikh Mansoor bin Zayed bin Sultan Al Nahyan, and Omani Oil and Gas Minister Dr. Mohammed bin Hamad Al Rumhi.
The chairman added that the deal would include setting up petrochemical projects, oil refineries and exchange of technologies and expertise between the two companies.
It is worth mentioning that OOC is a national oil investment company of Oman and is wholly owned by the Government of the Sultanate of Oman. Creation of the company was proposed in 1992 and the company was established in 1996.
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