Oman woos US Oil & Gas investment in Duqm SEZ
A delegation led by the Special Economic Zone Authority of Duqm (SEZAD) wrapped up its threeday-long road-show in Houston, USA, with a strong invitation to international companies to invest in Duqm’s Oil & Gas cluster.
Speaking at an investment seminar held in Houston — a major hub of the global Oil & Gas industry — on October 13, Yahya bin Saeed al Jabri, Chairman of SEZAD, underlined the potential for synergies between Oman and Houston that could be exploited in the energy sector.
He invited US firms to explore opportunities for partnerships and joint ventures between the Sultanate and Houston.
The event was attended by representatives of more than 70 companies, most of them key players in the US energy industry. The promotion aims at making Us-based international Oil & Gas companies aware of Duqm’s investment potential as illustrated by the start of construction work on the multibillion dollar Duqm Refinery and Petrochemical Industries Complex, which will be operated by the Duqm Refinery Company.
Al Jabri also praised economic relations between Oman and the United States, which date back to early years of American Independence and the Treaty of Friendship and Trade signed by the two countries in Muscat in 1833. A Free Trade Agreement was signed between the two countries in January 2006.
The delegation also visited the headquarters of energy giant Occidental where the visitors were briefed about the company’s projects in Houston. Later, the team toured the Port of Houston, which is one of the largest maritime gateways in the US.
The roadshow now moves to Washington DC on Monday, October 15, where a number of meetings will be held with the business community in the US capital.