Oman Oil Marketing Company (omanoil) and Salalah Port Services have signed a long-term land lease agreement, aimed to develop a new marine bunkering and product trading terminal in the country’s southernmost governorate.

The medium-size terminal will help expand omanoil’s bunker and trading capabilities, providing ships calling at the Port of Salalah with fuelling services by end of 2016, added the Times of Oman report.

Omanoil’s chief executive officer Omar Ahmed Qatan, said that the agreement is a major step forward, one that reflects the company’s ambition of expanding its presence throughout the sultanate and enhances its ability to serve the shipping industry.

He said that the partnership with Salalah Port Services will help establish a footprint inside the port and efficiently serve the company’s bunker customers.

Qatan further noted that the terminal will also open the door to explore new trading opportunities.

He added that following completion the new facility will further strengthening the governorate of Dhofar’s position as a key logistics hub and centre of maritime trade.
 
The terminal project by omanoil forms part of its business diversification drive and will further contribute to the national economic agenda, added the report.