Press Release
| 30/04/2010 |
| Oil & Gas enclave within Freezone Sohar |
On April 28 2010, a contract was signed for the establishment of an Oil & Gas enclave in Freezone Sohar. The signing took place in Muscat, Oman with the CEO of Sohar Industrial Port company Mr Jan Meijer, the COO of Sohar Freezone Sohar LLC and the General Manager Mr Vinay Sharma of Oil Field Warehouse & Services (OWS).
The success story of the Port of Sohar has put the managing company in a mature situation of developing the Freezone Sohar in the direct vicinity of the port. The addendum to the original concession agreement for the Port of Sohar was signed in 2007 to develop and manage 4500 ha for establishing the Freezone Sohar. The interest and knowledge about the advantages of investing in the newly launched Freezone Sohar is growing and today another contract was signed.
Oil Field Warehouse & Services (OWS) was established in 2005 to cater to the growing demands of the Oil & Gas industry in India. The company is working to provide a holistic approach to the material management and logistical requirements of the Oil & Gas industry.
The explorations are quite extensive in the unexplored areas due to continuous demand and the exploration business within the Oil & Gas sector is also going to be continuous as the companies have started going to deeper and deeper waters.
The contract signed today is to create an Oil & Gas enclave of 50 ha within the Freezone Sohar to become a hub for the Oil & Gas activities for the entire Middle East, south East Asia including India, Pakistan, Bangladesh and Myanmar. OWS will through their long experience in these fields find companies that will put up their facilities for manufacturing, servicing and maintenance or create business for their oil & gas tools and equipments and by doing so, reduce their operating, manning and administration costs.
The biggest differentiator between Freezone Sohar together with the Port of Sohar and other ports and free zones in the region is the presence of the raw materials in the port produced by base industries and the advantage of this for all downstream industries coming to the Freezone Sohar.This together with the Sultanate of Oman being a very stable country with a very friendly business environment has proven to be a very important factor for investors. |
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