Latest news with #Fahud
Zawya
5 hours ago
- Business
- Zawya
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. (
Zawya
18 hours ago
- Business
- Zawya
Oman's OQGN awards EPC contract for $273mln Fahud - Suhar Loop Line project
OQ Gas Networks (OQGN), Oman's sole gas transmission operator and owner, announced on Wednesday that it has awarded Engineering, Procurement, and Construction (EPC) contract for the new 42 inch, 193-kilometre (km) loop line from Fahud to Suhar to Egypt-headquartered Petrojet. The agreement for the Fahud - Suhar Loop Line project was signed on 17 June 2025, the MSX-listed company said in a stock exchange statement. The statement said OQGN also awarded the supply of 193-km of line pipes to Jindal SAW. The project, which is estimated to cost 105 million Omani riyals ($273 million), is scheduled to be completed in 24 months, the statement noted. According to the statement, the project cost will be included in the Company's Regulated Asset Base (RAB), and, like the rest of the RAB, the return on this investment will be determined based on the Weighted Average Cost of Capital (WACC). The currently approved WACC in Price Control 3 is 7.79 percent and will remain in effect until 2027. In November 2024, Zawya Projects had reported that OQGN secured approval from relevant authorities for the execution of a second loop line from Fahud to Sohar. (Reporting by Deva Palanisamy; Editing by Anoop Menon) (
