Oman Oil plans to invest over $1bn in 2017: CEO

The Salalah LPG project has been approved by the company board, and it is now negotiating with banks for financial closure

CEO Isam al Zadjali was speaking to the media on the sidelines of an agreement-signing event at the ministry of oil & gas.
CEO Isam al Zadjali was speaking to the media on the sidelines of an agreement-signing event at the ministry of oil & gas.

Oman Oil Co is looking to pour "north of $1bn" into the group’s major projects and investments this year, CEO Isam al Zadjali said this week.

He was speaking to the media on the sidelines of an agreement-signing event at the ministry of oil & gas.

Zadjali added that the Salalah LPG project has been approved by the company board; and it is now negotiating with banks for financial closure, which is expected in the next few weeks.

“We are also going to recommend to the board an ammonia project which will be part of the expansion of the Salalah Methanol project,” he added.

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