2011 to 2020
Following the initial phase of integration, Orpic was founded in 2011.[4]
In 2013, OQ acquired a German-based company, Oxea.[7]
OOC signed an exploration and production agreement with BP in 2013, to further develop the Khazzan-Makarem gas field.[8]
In 2014, construction of the Sohar Refinery Improvement Project started.[9]
In 2016, OOC secured a $4 billion loan to invest into various projects over the coming years.[10] In the following year OOC signed a memorandum of understanding with Spain’s Eni.[11]
In 2017, a joint venture between Kuwait Petroleum International and OQ was announced for the development of Duqm Refinery & Petrochemical Complex.[12] In the same year, OQ's subsidiary, Oman Tank Terminal Company (OTTCO), began construction of a crude oil storage terminal near Raz Markaz.[13]
In 2018, Oman Oil Company sold 10% of its 40% stake in the Khazzan gas field to Malaysia's Petronas and signed two concessions/agreements with Occidental Petroleum (Oxy).[14][15][16]
In November 2018, OOC announced that the company will be merged with refining company Orpic, which had been created in 2011 to operate Oman's downstream assets.[17]
The NAKHLA programme was initiated in 2018.[18] The construction of the Duqm Refinery began the same year, as did the groundwork for the Salalah LPG and Salalah Ammonia Projects.[19]
Orpic Group merged with Oman Oil Company in 2019, and the combined business was given the moniker OQ.[20] OQ is an acronym for "Opportunity and Quality."
In 2019, Oman Gas Company was incorporated into the OQ brand and was renamed OQ Gas Networks (OQGN).[21][22]
In January 2020, the State Budget allocated funds to assist OQ Subsidiary, Oman Tank Terminal Company (OTTCO), with the Ras Markaz crude oil storage terminal that would become an international storage hub and strategically locate Oman in the Indian Ocean.[23][24] Funds were also placed from the budget into the Liwa Plastic Industries Complex, a OQ investment.[23] In May 2020, the commissioning phase commenced.[25]
Production increases were planned for OQC in Germany for 2021. The OQ announced in May 2020 the intention to add 30% total production for the coming year.[26]
In June 2020, Oxea was fully integrated into a group of eight other companies to create OQ, after the full process had begun in 2018.[27][28][29]
In August 2020, OQ and the Ministry of Heritage and Tourism collaborated to announce the opening of a tourist centre at the archaeological site in the Wilayat of Al Dibba.[30] The OQ also signed a Memorandum of Cooperation (MoC) with the Minister of Education and Jusoor Foundation to manage and run the Liwa Science and Innovation Center.[31]
