OMAN US Report On The
Middle EastAquatech will export a $100 million waste water recycle/reuse facility to an oil field project in Oman Thursday, 24 August 2006
Aquatech International Corporation, a provider of innovative water purification technology solutions headquartered in Canonsburg, Pennsylvania, will export a waste water recycle/reuse facility to an oilfield project in Oman valued at over $100 million with the help of a $23 million working capital loan guarantee from the Export-Import Bank of the United States (Ex-Im Bank).
The facility will use MVC evaporation technology to desalinate and recycle waste water generated by an enhanced oil recovery facility. The loan from PNC Bank in Pittsburgh, Pennsylvania, will provide Aquatech with working capital to fulfill its contract to supply equipment and related services to Occidental Mukhaizna LLC, a subsidiary of Occidental Petroleum, and Contractors Technical Services LLC in Oman.IFC will provide a $100 million long-term subordinated loan to BankMuscat
Saturday, 10 June 2006
The International Finance Corporation (IFC) will provide a long-term subordinated loan of $100 million to BankMuscat SAOG, the largest commercial bank in the Sultanate of Oman, to strengthen its capital adequacy and to support growth of the bank’s long-term mortgage financing and its small and medium enterprise portfolio. This will be IFC’s largest investment in the Middle East and North Africa region.
The transaction, was signed by Shaikh Abdul Malik bin Abdullah al Khalili, chairman of BankMuscat and Michael Essex, director of IFC’s Middle East and North Africa Department. The deal is in line with IFC’s strategy to help the Gulf Cooperation Council (GCC) economies become less dependent on oil-related revenues. In addition to the loan, IFC is providing technical assistance to help BankMuscat grow its small and medium enterprise business.ITT wins a $6 million contract to deliver to Oman one airport surveillance radar/ secondary surveillance radar
Tuesday, 22 November 2005
ITT Industries, Van Nuys, California, is being awarded a $6,199,959 firm fixed price contract to deliver to the Royal Air force of the Sultanate of Oman: one airport surveillance radar/ secondary surveillance radar. It consists of tactical ASR subsystem, a power subsystem, an air traffic control center subsystem, a control tower system; installation, checkout and acceptance; site survey, training, and flight test.
This work will be complete by November 2005. The Network Centric Operations/ Integration Systems Wing Headquarters Electronic Systems Center, Hanscom Air Force Base, Massachusetts, is the contracting activity.Moody's upgrades the long, short term foreign currency deposit ratings of Omani banks
Monday, 10 October 2005
Moody's rating agency has upgraded the long and short term foreign currency deposit ratings of BankMuscat (BM), National Bank of Oman (NBO), Oman International Bank (OIB) and Oman Arab Bank (OAB) to Baa1/Prime-2 (P-2) from Baa3/P-3, of Alliance Housing Bank (AHB) to Baa2/P-3 from Baa3/P-3, and the foreign currency senior unsecured debt rating of BM to Baa1 from Baa3.
At the same time, Moody's has also upgraded the local currency senior debt ratings of BM to Baa1 from Baa3, and the long and short term local currency deposit ratings of AHB to Baa2/P-3 from Baa3/P-3.
These rating actions follow the investors service recent upgrade of Oman's foreign and local currency country ceiling for bonds and bank deposits to Baa1/P-2 from Baa2/P-2. The outlook for the local and foreign currency deposit and debt ratings of all five banks is stable.
By the same action, Moody's has also changed the outlook on the D+ Financial Strength Rating (FSR) of BM from stable to positive, and on the D- FSR of NBO from negative to stable. The FSRs of OAB, OIB and AHB all carry stable outlooks and are unaffected by this action.Bechtel will build an aluminum smelter in Oman out of a $2.2 billion project also including a power station, desalination plant and a port facility
Monday, 25 July 2005
Bechtel has signed an agreement to build an aluminum smelter in northern Oman for Sohar Aluminum, as part of an overall $2.2 billion project that will also include a power station, a desalination plant and a port facility.
Bechtel will provide engineering, procurement, construction, and project management for the smelter, which will have a capacity of 325,000 tones of aluminum per year.
Sohar Aluminum is a joint venture of Oman Oil Company and Abu Dhabi Water and Electricity Authority; each of which owns 40 percent; and Canada's Alcan Inc. which owns the remaining 20 percent.Occidental, its partners expect to invest $2 billion to develop Oman's Mukhaizna oil field
Thursday, 14 July 2005
Occidental Petroleum Corporation has announced today that a Royal Decree has been issued by the Sultanate of Oman approving the contract for the development of the Mukhaizna oil field, one of the largest oil fields in Oman. Under the terms of a new Production Sharing Contract, Occidental will be operator of the field and hold a 45 percent interest, the Government of the Sultanate of Oman, through Oman Oil Company, will hold a 20 percent interest, 17 percent will be held by Shell Oman Trading Company Limited, 15 percent by Liwa Energy Ltd. (an investment company of the Government of Abu Dhabi), Total E&P Oman will hold a 2 percent interest, and Partex (Oman) will hold 1 percent.
Located in central Oman, the Mukhaizna field was discovered in 1975 by Petroleum Development Oman (PDO). The field is currently producing approximately 10,000 barrels of oil per day. Occidental and its partners expect to invest over $2 billion to implement a large-scale steam flood to increase production to approximately 150,000 barrels per day within the next few years and to recover approximately 1 billion barrels of oil over the life of the project.IFC provides a $10 million to Oman's Taageer Finance, a private leasing company
Wednesday, 22 June 2005
The International Finance Corporation (IFC) will provide a long-term credit line of $10 million to Taageer Finance Company, a private sector leasing company engaged in financing small and medium sized enterprises and retail customers in Oman.Moody's withdraws A3 Debt Ratings of Oman Liquefied Natural Gas (LNG)
Wednesday, 22 June 2005
Moody's rating agency has withdrawn today A3 Debt Ratings of of Oman Liquefied Natural Gas L.L.C. (LNG)
On 9 July 2004, Moody's affirmed Oman LNG's A3 Senior Secured Debt Ratings, and rated additional $175 million debt A3 with Stable outlook.IFC provides a $45 million loan to Alliance Housing Bank in Oman
Monday, 20 June 2005
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, will provide a long term loan of $45 million for its own account to Alliance Housing Bank in Oman, to expand its mortgage portfolio.Marine wins a $19 million contract for construction of 3 Fast Patrol Boats for the Royal Oman Police Coast Guard
Thursday, 9 June 2005
United States Marine, Inc., New Orleans, Louisiana, is being awarded an $18,826,099 firm-fixed-price contract for construction of three 27 meter Fast Patrol Boats (FPB), with technical data, training, and spare parts for the Royal Oman Police Coast Guard (ROPCG).
The FPB will be constructed of fiberglass reinforced plastic and conform to American Bureau of Shipping high-speed naval craft requirements.
Work will be performed in New Orleans, Louisiana, and is expected to be completed by May 2007. The Naval Sea Systems Command, Washington, D.C., is the contracting activity.Occidental, Liwa will invest $2 billion to upgrade Mukhaizna oil field of Oman
Monday, 2 May 2005
Occidental Petroleum Corporation has announced today that it has signed a Heads of Agreement with the government of Oman to develop the Mukhaizna oil field, one of the largest oilfields in Oman. Under the terms of a new Production Sharing Contract, Occidental will be operator of the field. Occidental's partner in the project is Liwa Energy Limited, which is owned by Mubadala Development, the investment and development company wholly owned by the Government of the Emirate of Abu Dhabi of the United Arab Emirates (UAE).
Located in central Oman, the Mukhaizna field was discovered in 1975 by Petroleum Development Oman (PDO). The field is currently producing approximately 10,000 barrels of oil per day. Occidental and its partners expect to invest over $2 billion to implement a large-scale steam flood to increase production to approximately 150,000 barrels per day within the next few years and to recover approximately 1 billion barrels of oil over the life of the project.IFC provides a $40 million loan to Mazoon Petrogas in Oman
Wednesday, 2 March 2005
The International Finance Corporation (IFC) has agreed to provide long-term corporate financing of up to $40 million to Mazoon Petrogas in Oman.
Mazoon and its sister company, Petrogas, are the only locally-owned private companies operating in Oman's exploration and production sector. Mazoon explores and produces crude oil in Block-5 of northwest Oman. The company proposes to develop Block-5 further and to double current crude oil production of 15,000 barrels of oil per day.Lockheed wins a $13 million contract modification for integrated logistics support to Omani F-16
Wednesday, 31 March 2004
Lockheed Martin Corp., Fort Worth, Texas, is being awarded a $12,843,879 firm fixed price contract modification. This definitization modification for integrated logistics support, to include developmental support equipment and country standard technical orders, for the 12 F-16C/D Block 50 aircraft and associated alternate mission equipment to be delivered to the Royal Air Force of Oman.
This work will be complete by December 2007. The Headquarters Aeronautical Systems Center, Wright-Patterson Air Force Base, Ohio, is the contracting activity.Lockheed wins a $25 million contract modification to provide for the purchase of 12 F-16C/D Block 50 aircraft for Oman
Tuesday, 25 November 2003
Lockheed Martin Corp., Fort Worth, Texas, is being awarded a $24,501,655 contract modification to provide for the purchase of 12 F-16C/D Block 50 aircraft with associated alternate mission equipment for the Royal Air Force of Oman.
This action definitizes Phase III of a 3-phase undefinitized contract action. This work will be complete December 2008. The Aeronautical Systems Center, Wright-Patterson Air Force Base, Ohio, is the contracting activity.Lockheed wins a $224 million contract to provide for the common recurring effort for 12 Omani F-16/CD aircraft
Friday, 13 June 2003
Lockheed Martin Corp., Lockheed Martin Aeronautical Systems Co., Fort Worth, Texas, is being awarded a $223,999,556 firm-fixed-price contract to provide for the common recurring effort for 12 Omani F-16/CD aircraft, alternate mission equipment and ferry preparation. This effort does not include non-recurring development costs that will be negotiated separately.
This work will be completed in June 2006. The Aeronautical Systems Center, Wright-Patterson Air Force Base, Ohio, is the contracting activity.Occidental Petroleum will sell 120-130 million cfd of natural gas from its operations in Oman to the Government beginning mid-2004
Tuesday, 29 April 2003
Occidental Petroleum Corporation has announced today an agreement to sell 120-130 million gross cubic feet of natural gas per day (cfd) from its Block 9 operations in Oman to the Omani Government beginning mid-year 2004.
Occidental operates of Block 9, with a 65 percent working interest, and Mitsui holds the remaining 35 percent interest.Lockheed wins a $7 million contract modification to procure spare parts for Omani F-16
Thursday, 20 March 2003
Lockheed Martin Corp., Fort Worth, Texas, is being awarded a $6,792,153 firm-fixed price provisioned item order contract modification to procure four separate line items of initial spare parts for the Oman Air Force in support of their F-16 aircraft consisting of two antennas for $1,360,564; three Radar Cores for $108,516; three Medium Duty Transmitter for $2,817,791; and two radar fire control for $1,812,282.
This work will be completed by June 2005. The Ogden Air Logistics Center, Hill Air Force Base, Utah, is the contracting activity.Sultan Qaboos, President Bush discuss Iraq
Monday, 10 March 2003
President George W. Bush has made today a phone call to Sultan Qaboos bin Said of Oman to review with him the current situation in Iraq, said White House Spokesman Ari Fleischer. President Bush thanked Sultan Qaboos for Oman's, "years of reliable and steady friendship and support for the United States."
The President noted that if hostilities were unavoidable, according to the Spokesman, the United States would seek to provide humanitarian aid, relief and support to the people of Iraq.
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