A consortium led by Korean company GS Engineering and Construction has been awarded a major contract by Oman Oil Refinery and Petroleum Industries Company to develop a natural gas liquids (NGL) extraction plant at an investment of $700 million in the Liwa region of the sultanate.

As per the deal, GS along with its consortium partner Mitsui, a Japanese trading house, will build the new facility in the Fahud region.

It will have a capacity of 670 million standard cu ft per day and is expected to be completed within 43 months from the engineering, procurment and construction (EPC) contract's commencement date, said the company in a statement.

The plant, which represents Mitsui's first EPC project in the Omani oil and gas sector, is likely to be commissioned in the next three years. The scope of work includes engineering, procurement, construction of NGL extraction plant.

On the deal, Mitsui president and CEO Tatsuo Yasunaga said: "We have a notable track record in the upstream oil and gas sector in Oman through our participation in onshore oil and gas production and the Oman LNG project, and in the power sector, through participation in the Salalah-2 IPP project which Mitsui was awarded this year."

According to him, the Liwa project will be the first EPC project in the oil and gas sector in Oman for Mitsui, which will lead to further growth of the oil and gas sector in the sultanate.

"Mitsui will continue to aim at winning contracts for quality projects and will contribute to the development of infrastructure in Oman as one of the primary countries in the infrastructure development field," he added.-TradeArabia News Service