Oman Inks Major Deals in Energy, Logistics & Tourism

The Duqm Economic Forum 2025 opened with a series of landmark agreements that underscored the Sultanate of Oman’s growing influence as a regional hub for sustainable industries, logistics and tourism.

Bringing together international investors, experts and officials, the two-day event focused on advancing Duqm’s role as a model for economic diversification and green growth.

A key highlight of the forum was the signing of a strategic partnership between Oman Tank Terminal Company (OTTCO) and Dutch multinational Royal Vopak.

The agreement involves establishing and operating state-of-the-art petroleum and chemical storage facilities within the Duqm Special Economic Zone, with future expansion plans into green ammonia and hydrogen projects.

The collaboration aims to enhance Oman’s standing as an international logistics hub and accelerate its transition towards clean energy solutions.

Eng Salem bin Marhoon al Hashmi, CEO of OTTCO, said the partnership marks a pivotal moment in Duqm’s development.

“This strategic step reinforces Duqm’s position as a competitive global economic zone and contributes to building an integrated energy ecosystem that supports the global shift towards sustainable systems”, he said.

The new joint venture, with OTTCO holding a 51 per cent stake and Vopak 49 per cent, will develop advanced storage and export facilities tailored to meet global energy flow requirements.

Another key agreement saw Tanmia Energy Oman and Japan’s Sumitomo Corporation form a partnership to establish a company dedicated to energy supply chain management in Oman. This initiative aims to enhance efficiency and sustainability in the country’s growing energy sector.

In the tourism and real estate sector, the Duqm Special Economic Zone Authority signed a memorandum of understanding (MoU) with Tatweer and Al Abrar Real Estate, part of the Al Siyabi Group, to develop an integrated tourism, residential and commercial complex.

The project is expected to contribute to Duqm’s urban development and attract more investors and visitors to the region. Further reinforcing its commitment to innovation, Marafiq Duqm signed a strategic agreement with the German University of Technology in Oman (GUtech).

Under the deal, Marafiq will finance the construction of a social complex, while GUtech will employ advanced 3D printing technology for construction and manage the facility’s operations long-term.

Rounding off the forum’s first day, Port of Duqm inked an MoU with Japanese shipping giant Nippon Yusen Line (NYK) to bolster cooperation in maritime transport and port infrastructure.

The agreement aims to strengthen Port of Duqm’s role as a strategic maritime and logistics gateway connecting regional and global trade routes.

Together, these partnerships mark a significant leap in Duqm’s journey to becoming a diversified, innovation-driven, and globally connected economic powerhouse.