OQ Oman announces entry in function of the third crude oil processing plant in the Bassat field

The Omani Okio Group has announced the entry in function of the third crude oil processing plant in the Bisat field, which will help increase the field’s production to 60,000 barrels per day early next year.

Okyo added that the operation of the station will increase the group’s production capacity to 219,000 barrels per day of oil equivalent, which represents 12.6 percent of the total oil production in the Sultanate, according to the Oman News Agency.

OQ plans to list its drilling unit, Abraaj Energy Services, on the Muscat market in the first quarter of next year.

The offer is expected to raise $500 million and Abraaj has selected EFG Hermes Holding, National Bank of Oman and Ahli Bank of Oman to advise on the planned initial public offering.

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