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OQ, the state-backed energy investment company of Oman, has invested 800 million rials ($2.08 billion) across three projects in the governate of Musandam.
The projects include the Musandam Gas Processing Plant, the management of offshore fields in Concession Area 8 and the Musandam Power Plant, Oman News Agency reported.
According to OQ, its investments in the Musandam Gas Processing Plant is pivotal to the transformation of the region’s energy infrastructure, while also supporting the needs of the governorate.
Additionally, OQ stated the operation of the offshore fields, owned by Oman’s Ministry of Energy and Minerals, focuses on enhancing operational efficiency, increasing production, and reducing operational costs.
The area includes the Bukha and West Bukha fields, which supplies the Musandam Power Plant and provides electricity to the governorate with a production capacity of about 120 megawatts per hour.
OQ is also executing several social investment projects across the governorate, valued at RO 4 million, which will focus on urban, environmental and tourism aspects. Projects include developing the Daba Archaeological Centre, the Daba Waterfront Project, and the development of Telegraph Island, among others.
(Writing by Bindu Rai, editing by Daniel Luiz)
