Oman Tank Terminal Company (OTTCO) has entered into Phase 1.4 of the expansion of Ras Markaz oil storage terminal at the Special Economic Zone (Sezad), Duqm, Oman, with the Trade Bridge project. OTTCO signed a 40km2 land deal for Ras Markaz with Sezad in 2017; the terminal will hold 200 million barrels of crude oil a year and cost around $5.2 billion (€4.6 billion).
The first phase of the Ras Markaz terminal was commissioned in December 2022 and had a capacity of 26.7 million barrels. It is connected to the Duqm refinery, worth around $7 billion (€6.2 billion), via a pipeline. The Trade Bridge project includes the engineering, procurement and construction (EPC) of eight 650,000-barrel storage tanks, totalling an additional 5.2 million barrels of storage capacity at Ras Markaz.
MEED reports that ‘State-owned OTTCO issued the prequalification notice for the project on 28 July 2026, with contractors submitting initial responses by 4 August 20206 and final responses by 19 August 2026. OTTCO issued the main tender for EPC works on Project Trade Bridge in the weeks following completion of the prequalification exercise.’
