How we began OQ’s journey began in the 20th century when the formation of the national Oman Oil Company was approved in 1992. After additional details were finalized, the company finally came into being in 1996, starting official operations. Since then the OOC has contributed endless efforts to increasing investment in the oil and gas industry in Oman. In 2007, the OOC gained control of two Omani oil refineries named Mina al-Fahal Refinery (previously run by the Oman Refinery Company) and the Sohar Refinery Company. The Mina al-Fahal was the first Omani oil refinery that got commissioned in 1982. On the other hand, the Sohar Refinery Company’s construction began in 2004, gaining the status of the first Omani Polypropylene plant in 2006 before merging with the OOC in 2007. ORPIC was formed in 2011 after the Omani Government and the Oman Oil Company unified its resources and man-power. It consisted of the amalgamation of four different plants; the Sohar Refinery, Mina Al-Fahal Refinery, Aromatics Plant,
and a Polypropylene plant. The integration of these refineries came from three companies; Oman Refinery and Petrochemicals Company, Aromatics Oman, and Oman Polypropylene. Since formation, ORPIC has engaged in several successful projects such as the Sohar Refinery Improvement Project in 2016 and the Muscat Sohar Product Pipeline in 2017. 2018 brought the merging of OOC and ORPIC. Under the new brand titled “OQ”, both the companies decided to unite their subsidiaries operating through integration. The decision was announced in 2018 but as expected to be completed two years later in 2020.
Our Achievements Since the recent consolidation of OQ in 2019, it has distinguished itself as one of the leading multinational companies in Oman, particularly in the petrochemicals and polymers sectors. OQ recently completed the final step of its consolidation process, integrating International Assets Oxea and Oman Trading International
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into its rapidly growing empire. Operating over four major business units (upstream, downstream, commercial, and alternative energy), OQ provides a wide range of products to a diverse set of industry segments. Particularly, it is our state-of-the-art production facilities that set us apart. We are proud to announce our ownership of plant capacities of 440KTPA of Linear Low-Density Polyethylene (LLDPE) and 440KTPA High-Density Polyethylene (HDPE). These, paired with our 320KTPA and 300KTPA Polypropylene facilities, satisfy the global need for innovative polymer solutions. Just recently, OQ chemicals was greatly lauded for its management in the supply chain, achieving gold status in the 2020 Ecovadis Sustainability ranking for the second time in a row. This proves OQ to be a champion when it comes to maintaining a healthy environment and working conditions, managing production responsibly, and ensuring sustainability. Moreover, OQ expanded its isononanoic acid capacity by a significant 30 per cent in October. This has not only ensured greater flexibility in production but has also enhanced the supply of our products. What’s more, OQ’s recent successful debut at Plastivision 2020 has opened up another new market for its products in the Indian
industries, further adding to our expansion. Our cutting-edge geotextile solutions to ameliorate road conditions and increase road lifespan were very popular. OQ is very conscious of its responsibility and the current need for sustainability when it comes to its plastic products. We are proud to declare that our Luban brand of polymers, available in more than 60 countries now, meets the standards of sustainability and efficiency required to uphold a circular economy. In addition to this, we recently concluded our R&D study of the black powder phenomenon which is a common problem in gas networks. Our researchers were successfully able to recognize the elements that caused its
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formation. They also worked out environmentfriendly solutions to render its safe disposal. We at OQ are constantly pushing the boundaries of innovation, working out new, sustainable solutions on a global level according to the need of the hour. Our readily piling accomplishments only motivate us to provide our esteemed international clientele with even better products.
What we’re working on We at OQ have thoughtfully drafted out a clear road map, establishing our plans decades into the future. OQ’s goal-oriented, futuristic approach is one of the most prominent reasons behind its steady international acclaim and
accomplishments. We are seeing OQ rise as an all-encompassing global organization, amalgamating a diverse set of talents and expertise to provide the highest quality services and products to our clients. It is our careful planning and foresight that has enabled us at OQ to spread our services over multiple industry segments. OQ plans to boost its downstream production from the current 15 million tonnes to 24 million tonnes by 2030. Meanwhile, we also plan on increasing our commodity sales volumes from 21 million tonnes to 40 million tonnes by 2030. Moreover, with our services and products spread over multiple industries all-round the globe, we look forward to expanding our business empire even further. We also aim to venture out to new business areas including alternative energy, gas
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management as well as retail avenues. And so, OQ has planned out investments amounting to 28 billion US dollars for future expansion projects. Our objective is to develop an integrated hydrocarbon value chain.
Currently, we are beginning with the commissioning phase of our state-of-the-art Liwa Plastics Industries Complex (LPIC), the investment totalling up to 6.7 billion US dollars.In addition to this, we are awarding 12 technology license packages to international technology providers to receive our shareholders’ Final Investment Decision (FID) in 2021. Besides overseeing the functioning of our regular projects, we are also financing the creation of various social investment projects in the Governorate of Musandam. What’s more, our group CEO Musab al Mahruqi plans to grow our total oil equivalent managed by OQ from 655,000 barrels per day to one million barrels daily by 2030. We aim to further enhance our services for our customers and increase our contributions to not only our shareholders but also to our nation. Although OQ is an Omani state-owned enterprise, we are working diligently to facilitate both international and local private participation in the oil and gas sectors. Our Group CEO also looks forward to building upon the precedents set by His Majesty Sultan Qaboos bin Said. His decision of the integration to form OQ has had a very positive and uplifting effect on its operations, its various business units now functioning in a mutually beneficial harmony.
We at OQ look forward to growing and expanding further under his wisdom and guidance.
Integration Under the patronage of Oman’s Minister of Oil and Gas and the Chairman of its board of directors, Oman Oil and Orpic Group integrated with seven other business units to form OQ. We especially acknowledge the contributions of His Majesty Sultan Qaboos bin Said, whose authority and guidance have brought about the establishment of this successful business empire. OQ is now proud to call itself the Sultanate’s flagship energy company, providing more than 30 products sold to over 2000 clients in more than 60 countries. Although OQ was formed recently in 2019 by the merging of nine Omani firms, its origins and presence have permeated throughout the industry for more than a century now. The integration of our previously independent energy companies has proven an especially advantageous development. This integration has enabled OQ to expand its reach to a global platform and modernize its extensive downstream and upstream value chains. Moreover, it has helped OQ unlock its maximum efficiency and enhance its business model significantly. The nine companies that integrated to form OQ are as follows: Oman Oil Company Orpic Oman Oil Company Exploration and Production Oman Gas Company Duqm Refinery Salalah Methanol Company Oman Trading International OXEA Salalah Liquified Petroleum Gas
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The creation of this burgeoning business empire has made numerous opportunities accessible to OQ. OQ offers a range of products including polypropylene, polyethylene, intermediates, derivatives, and refined products to its clients in the plastics industry. We are not only the leading manufacturers of oxo chemicals but are also able to produce Homopolymers as well as random and impact copolymers. Owing to our expertise and abilities, OQ has been prosperous despite the substantial increase in size. At OQ, we have moulded this aspect to our benefit, diligently crafting our vision and building up a new organizational structure. A very significant factor that has greatly aided our success is the improved accessibility of resources and products of our merging units. We are now able to utilize these resources to provide an increased number of more developed sustainable solutions to consumers. With this newly created alliance, we have been able to push past all our previous records of efficiency and productivity. But most importantly, it has allowed us at OQ to deliver the very best to our esteemed clients. Our employees at OQ have pitched in more than 800 ideas that have helped us save costs of up to 280 million US dollars to date. Our consolidation to form OQ has also had a pivotal role in strengthening and further growing our relationships with local and international associates in the oil and gas industry. This has enabled OQ to make its mark in multiple global
markets, supported by investments totalling up to 28 billion US dollars in the coming ten years. Just this January, OQ made its mark on the International arena at Plastex 2020 and Plastivision 2020. In the quite volatile oil and gas sectors of the market, our centralization has significantly helped us in issuing flexible and efficient responses to conquer a variety of arising challenges. Furthermore, by streamlining our internal business processes and operations, we have greatly accelerated our productivity in the competitive industry. We have planned out to double our current GDP contribution of 10 billion US dollars to 20 billion US dollars. With all our extensive industry segments (including food and agriculture, flexible packaging, infrastructure and construction, lubricants and functional fluids, rigid packaging and durables, automotive and transportation, paints and coatings, pharmaceuticals and medical care, and finally, personal and home care) functioning in harmony, we have ensured noticeable improvements in our standardization and management.
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Our Vision and Commitment Our vision lies at the core of our ventures, pushing us to provide only the best services to our clients. Supplying over 60 countries with our fuel and chemicals products and operating in 16 of them, our commitment to delivering the purest quality is what pushes us forward. Amidst the tumultuous circumstances that our world suffers through today, we aim to offer the best competitive pricing to our clients for a product with unmatched quality. It is this dedication that has earned OQ a prominent spot in the energy suppliers of the world within a short period. Due to our strategic and leadership planning, OQ has been able to meet the supply-demand of the clients ever since stepping into oil and gas production.
OQ’s aspirations include expanding the involvement in the oil and gas industry, inviting investment, and thus increasing the consumer base. We aspire to increase our contributions to the Gross Domestic Product by two-folds reaching 20 Billion US Dollars in the near future. We further aim to reach at least dividends of 1 Billion US Dollars annually from 2029 and ahead. Our shareholders are amongst the most important individuals for us. Their welfare is our welfare. Owing to our dedication, OQ wishes to add further value to the investments made by shareholders, bringing the value of the funds to 30 Billion US Dollars. At OQ, we believe everything is in reach when we unite our workforces and aim for the welfare of all entities associated with us.
Our core values include being the flag bearers of working with integrity, agility, and efficiency. Caring for the customers, the collaborators, and the employees are OQ’s number one priority. The people-centric approach that lies in the heart of our dealings is what helps OQ achieve success amidst the competitive Oil and Gas market.
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