The agreement signing. (Image source: OQ)

Energy ties between Oman and Iraq are set to strengthen with the signature of two MoUs between OQ, Oman’s global energy investment group, with Iraq’s State Oil Marketing Organization (SOMO), the federal oil marketing arm of the Iraqi Ministry of Oil

The first MoU establishes a long-term partnership to develop and operate an integrated crude oil storage project with state-of-the-art infrastructure for storage, loading and unloading at Ras Markaz in Duqm. It will have an initial capacity of 10 million barrels with the potential for expansion.

The second MoU enables OQ Trading to market Iraqi crude in international markets.

By developing modern storage facilities and expanding crude trading capabilities, the two countries aim to maximise value, stimulate cross-border investment, and reinforce their positions as vital hubs in global energy trade.

Eng. Salem bin Marhoon Al Hashmi, Managing Director of Oman Tank Terminal Company (OTTCO), highlighted that since commencing operations at Ras Markaz in 2023, OTTCO has handled more than 300 million barrels of crude oil. The terminal is strategically located outside the Strait of Hormuz, offering international companies large-scale and flexible storage solutions and positioning Oman at the forefront of global energy logistics.

OTTCO operates the products export terminal at Duqm Port, part of the Duqm Refinery (OQ8), and is advancing into clean energy infrastructure through global partnerships in ammonia and green hydrogen, in line with Oman Vision 2040 objectives and the shift toward low-carbon energy.

Wail bin Zuhair Al Jamali, chief executive officer of OQ Trading, said, “This collaboration opens a new platform to reshape the region’s oil trading landscape. At OQ Trading, our global network and deep expertise in complex trading operations enable us to forge innovative alliances that strengthen Oman’s role as a hub for trade and investment.”

The two agreements additionally pave the way for knowledge exchange between OQ and SOMO, foster bilateral investment, and create new jobs across both the public and private sectors.

Omar ElSherif, regional manager for the Middle East at Neo Oiltools. (Image source: Neo Oiltools)

Drilling tools provider, Neo Oiltools, has appointed Omar ElSherif as the regional manager for Middle East

Previously, ElSherif has been associated with SLB's senior leadership for more than 13 years, donning the roles of drilling product engineer, technical sales engineer and senior drilling product engineer. His blend of engineering knowledge, product management experience, and local insight positions him ideally to support Neo Oiltools’ expansion and help boost drilling performance for operators across the Middle East.

ElSherif said, “I am pleased to join Neo Oiltools. I look forward to collaborating with operators across the region to improve drilling performance in these demanding environments.”

Middle East's complex geology is characterised by deep carbonates, extended-reach wells, and high-pressure formations that generate axial, lateral, torsional, and high-frequency vibrations. This pushes up reparing and other costs for operators from the region as slow penetration leads to damaged equipment.

Neo Oiltools addresses these challenges with NeoTork, a patented cable-and-spring tool that mitigates all four vibration types while maintaining optimal bit engagement—improving efficiency and minimising downtime. Integrated with NeoSmart, which captures high-frequency, 3D vibration data, it delivers actionable diagnostics that drive smarter drilling decisions.

The signing of the agreement. (Image source: Linde)

Linde, a leading global industrial gases and engineering company, has completed its acquisition of Dubai-based Airtec, one of the largest industrial gases companies in the Middle East

The acquisition, which sees Linde increasing its 49% stake in Airtec to over 90%, enhances Linde's presence across the GCC region, including Kuwait, the UAE, Qatar, Bahrain and Saudi Arabia.

Airtec produces industrial gases for customers across key end markets including energy, healthcare and manufacturing. Linde's integrated business in Middle East includes air separation units, CO2 plants, onsite gas generation facilities, and additional infrastructure to produce industrial, medical and specialty gases. Its industrial gases and technologies are used in the production of clean hydrogen and carbon capture systems critical to the energy transition. The company also delivers state-of-the-art gas processing solutions to support customer expansion, efficiency improvements and emissions reductions. Together with Aramco and SLB, it is developing one of the world’s largest carbon capture hubs in Jubail, Saudi Arabia, due for completion by late 2027, which will have the capacity to capture nine million metric tons of CO2 from Aramco gas plants and other industrial sources.

"Airtec's footprint is highly complementary to Linde's existing business," said Oliver Pfann, Senior Vice President EMEA, Linde. "The acquisition creates a diversified and integrated business that will benefit from significant synergies, while strengthening supply chain reliability and customer service. By consolidating our operations, Linde has also strengthened its owned network density in a region where demand for industrial gases continues to grow."

The expansion will significantly increase OQEP's oil processing capabilities. (Image source: OQEP)

Oman's OQ Exploration and Production (OQEP) has commissioned the Bisat-C Expansion Facilities in its Block 60 license ahead of schedule, significantly increasing its oil processing capabilities

The expanded facility can handle additional gross fluids capacity of 447,000 bpd, with an oil train processing capacity of 37,000 bpd, and produced water treatment capacity of 410,000 bpd, giving Bisat C a total oil processing capacity reaching 67,000 bpd.

Achieving first crude oil in less than 18 months, the project was marked by a high level of coordination, planning, and technical execution, according to OQEP. This project main contractor was Enerflex, with the Omani companies Majees Technical Services and Special Technical Services (STS), as subcontractors.

The project has a strong HSE record, with three million safe man-hours completed without a single Lost Time Injury (LTI), while two million kilometres were driven during the project without any Road Traffic Accidents (RTA), reflecting OQEP’s strong emphasis on HSE standards across all operations.

The project has made a strong contribution to local development, with OMR 24.6 million spent on Omani goods and services and 23 Omani graduates trained and recruited,.

From a construction perspective, a total of 486 piles, each 12 metres deep, were installed to support the facility’s tanks, the largest being the produced water tank, which has a capacity of 27,784 cubic meters (approximately 174,700 barrels). Other critical processing units and elements include a gas flotation tank, a gross inlet separator, a heater treater and desalter package, and containerised substation building. To support enhanced reservoir management, the water injection pumps boasts a flow of 1,130 cubic meters per hour at 90 Barg, powered by a 4 MW system back to subsurface.