IPIC, Oman Oil sign cooperative agreement

The Oman Oil Co (OOC) and Abu Dhabi’s state-owned International Petroleum Investment Co (IPIC) signed a cooperation agreement on investment projects in the sectors of oil, gas, and petrochemicals.

Eric Watkins
OGJ Oil Diplomacy Editor

LOS ANGELES, Apr. 22 -- The Oman Oil Co (OOC) and Abu Dhabi’s state-owned International Petroleum Investment Co (IPIC) signed a cooperation agreement on investment projects in the sectors of oil, gas, and petrochemicals.

The joint effort is intended to result in the establishment of oil refineries and petrochemical projects, in addition to the exchange of expertise and technologies, said Nasser bin Khamis Al Jashmi, Oil and Gas Ministry Undersecretary and OOC Chairman.

IPIC representative Khadim Abdullah Al Qubaisi said the two sides previously “cooperated in several investment projects, and now we hope that this agreement would be a starting point for investment projects in various local or global circles.”

Contact Eric Watkins at hippalus@yahoo.com.

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