Oman: OQGN awards $272mln gas pipeline contract
MUSCAT - OQ Gas Networks SAOG (OQGN), the owner and operator of Oman's gas transportation system, has announced the award of a contract worth RO 105 million for the implementation of the Second Loop Line Fahud-Suhar project – a key initiative to boost the country's gas supply network.
In a filing to the Omani bourse on Wednesday, June 18, 2025, OQGN – part of OQ Group – said the contract, covering the engineering, procurement and construction (EPC) of the 193km 42-inch pipeline project, was awarded to the Petroleum Projects Company Petrojet and Partners LLC.
Also as part of the project execution strategy, a related contract for the supply of 193 kilometers of line pipe was awarded to Jindal Saw Limited. The planned execution duration of the project is 24 months.
'The project aligns with the company's growth strategy and vision in leading the energy infrastructure,' OQGN added.
2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (Syndigate.info).
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
a day ago
- Zawya
Oman: CAA records $272mln in 2024 revenue, highlights global safety rankings
Muscat – The Civil Aviation Authority (CAA) announced on Wednesday that it recorded revenues amounting to RO105 million in 2024, underscoring its operational efficiency and financial sustainability. The announcement was made during the Authority's annual media briefing held in Muscat under the patronage of H.E. Dr Abdullah Nasser al Harrasi, Minister of Information. The event was attended by senior officials, strategic partners, and key stakeholders. Reviewing its performance over the past year, the CAA reported a 95.95 per cent compliance rate with aviation safety standards, placing Oman fifth globally in the effective implementation of aviation safety oversight. Major achievements included the activation of the southern runway at Muscat International Airport, the approval of the General Civil Aviation Policy, and the signing of nine international air transport agreements. The Authority also issued new regulations to enhance passenger rights protection and introduced a revised licensing framework for drone registration and air traffic management. As part of its digital transformation efforts, the CAA revamped 113 electronic services, implemented a document management system, obtained information security certification, and upgraded Oman's numerical weather prediction systems and wadi flood forecasting models. In terms of operational expansion, the CAA granted permits to 19 foreign airlines. Cybersecurity and aviation security policies were ratified, while operational manuals were activated for both Duqm and Marmul airports. Additionally, a new air navigation radar was installed in Jalan Bani Bu Ali to strengthen national airspace surveillance. Aviation performance indicators reflected growth, with a 2 per cent increase in passenger traffic compared to 2023, and over 120,000 flights recorded. Air cargo volumes surpassed 150,000 tonnes, while more than 540,300 aircraft transited Omani airspace – a 14 per cent rise year-on-year. The national meteorological monitoring network grew to include 80 stations across the country. Meanwhile, 520 consumer complaints were addressed and resolved efficiently. Internationally, Oman attained a 94.4 per cent compliance score in aviation security under the International Civil Aviation Organization's (ICAO) Continuous Monitoring Approach. The sultanate ranked fourth among G20 nations and third in the Middle East. Oman also achieved full compliance with aviation facilitation standards under Annex 9 of the Chicago Convention. Looking to the future, the Authority confirmed that detailed design work is nearing completion for Musandam Airport, with accelerated progress anticipated in early 2025. The tender for construction of the passenger terminal at Sohar Airport is expected to be issued before the end of the year. Meanwhile, a new aircraft hangar at Muscat International Airport is set to be inaugurated later this year, positioning Oman as a regional centre for aircraft maintenance. The event also marked the launch of an upgraded digital platform for Oman Meteorology, offering real-time weather updates. A commemorative postage stamp was unveiled to celebrate 50 years of Oman's membership in the World Meteorological Organization (WMO). H.E. Eng. Naif Ali al Abri, Chairman of the CAA, stated that the year's achievements reflect Oman's unwavering commitment to aviation safety and its alignment with international best practices. 'These results are a testament to our clear strategic vision and the strong collaboration between all partners. The civil aviation sector is a pillar of national development and plays a vital role in enhancing Oman's global connectivity,' he said. The commemorative stamp, released in partnership with Oman Post, highlights the sultanate's enduring contribution to international climate cooperation since becoming a member of the WMO in 1975. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Zawya
a day ago
- Zawya
Nepal Embassy promotes trade, jobs and tourism in Oman
MUSCAT: The Embassy of Nepal in Muscat successfully organised a Trade, Investment, Employment, and Tourism Promotion Event on June 25, bringing together a wide spectrum of attendees including company representatives, business leaders, hypermarket executives, and other prominent figures from Oman's business community. The event began with the ceremonial lighting of the traditional Nepali lamp Panas by Dornath Aryal, Ambassador of Nepal to the Sultanate of Oman. In his welcome remarks, Ambassador Aryal acknowledged the vital contributions of Nepali workers to Oman's economy and expressed Nepal's intent to expand its workforce in line with Oman's Vision 2040. He emphasised Nepal's ongoing reforms to simplify recruitment through digital platforms and policy enhancements, while also inviting participants to explore Nepal's investment potential in key sectors such as hydropower, tourism, and renewable energy. Bishesh Kumar Sah, Second Secretary, presented detailed insights into Nepal's trade and investment landscape. He identified high-potential export products and outlined attractive investment opportunities in hydropower, tourism, agriculture, and IT. Sah also introduced streamlined procedures for employers interested in recruiting Nepali manpower and showcased a newly developed web-based app integrated within the e-portal for Online Demand Attestation. The app enables the automatic generation of six essential documents for demand attestation, significantly easing the recruitment process. Attendees also viewed a promotional video and presentation highlighting Nepal's tourism appeal. The event also featured the distribution of souvenirs showcasing Nepal's iconic Himalayan landscapes and tourist destinations.
Zawya
a day ago
- Zawya
Oman's Rakiza Fund eyes key infrastructure opportunities
MUSCAT: Oman-based infrastructure fund manager Rakiza, a platform under the Oman Investment Authority (OIA), is eyeing new investment opportunities in the water and digital infrastructure sectors, according to the Fund's Chief Executive Officer, Muneer al Muneeri. Speaking in an interview with Bloomberg TV on the sidelines of the Asian Infrastructure Investment Bank (AIIB) Annual Meeting 2025, held in Beijing, Al Muneeri said the Fund continues to leverage its strong regional ties and deep market insight to build a robust and resilient infrastructure portfolio across Oman and Saudi Arabia. Rakiza, which manages a billion-dollar infrastructure-focused fund, currently invests in a mix of core assets, including logistics, power, social infrastructure, and increasingly, digital infrastructure. Over the past five years, the Fund has concentrated its efforts in Oman and Saudi Arabia, amassing a portfolio of five key assets across both countries. Among its notable holdings is a stake in Oman International Container Terminal (OICT), the main shipping gateway for northern Oman. Rakiza also owns 30% of Helios Oman, the largest independent telecom tower company in Oman, and 40% of Oman Broadband, the country's monopoly provider of fibre-to-the-home networks. In Saudi Arabia, Rakiza holds a 40% interest in Tihama, a power generation project serving Saudi Aramco, while in Oman, it is invested in the Khazaen Fruits & Vegetable Market (Silal)—a major logistics hub for the food sector developed on a public-private partnership (PPP) basis just outside Muscat. Looking ahead to the next 12 to 24 months, Al Muneeri said Rakiza remains focused on its core sectors, but sees rising opportunity in water infrastructure and continued potential in digital infrastructure. 'We continue to explore opportunities that offer the right balance of risk and fair returns for our investors,' he said. He added that the Fund targets low- to mid-teen internal rates of return (IRR) and has been able to consistently find such opportunities in the region. Addressing competition from global funds entering the region, Al Muneeri emphasised Rakiza's unique position as a local and regional champion. 'That's our story — we're local, we understand the market, we speak the language, and we know the legal and regulatory frameworks,' he said. 'We've been able to demonstrate to strategic investors that we are the right local partner. And certainly, we've secured several off-market transactions thanks to our regional credibility and positioning.' When asked about investor sentiment in light of recent regional tensions, particularly following the escalation of conflict in Iran, Al Muneeri acknowledged short-term concerns but underscored the resilient nature of infrastructure investing. 'Yes, in the short term, such events may impact sentiment and lead to repricing of risk,' he said. 'But infrastructure is by design a long-term, essential investment — covering sectors like power, water, ports—often backed by long-term contracts or concession agreements that insulate it from short-term volatility.' He added that Rakiza's deep understanding of regional dynamics has allowed the Fund to navigate risks effectively and identify solid, forward-looking investment opportunities.
