Oil and Gas Enclave in Oman's Sohar Free Zone to be Established by Indian Firm

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Researched by Industrial Info Resources (Sugar Land, Texas)--Oman's Sohar Free Zone LLC (Sohar, Oman) and Sohar Industrial Port Company (Sohar) have signed a contract with India's Oil Field Warehouse & Services (OWS) (Mumbai) to set up an oil and gas enclave in the Sohar Freezone, which is very close to the Port of Sohar.

The enclave to be set up over a 50-hectare area, upon completion, will function as a primary hub for oil- and gas-related functions across southeast Asia, including India, the Middle East, and Myanmar, Bangladesh and Pakistan.

OWS will use its expertise in the sector to further identify other companies that will be able to set up shop in the zone. The firms will be involved in the manufacture, service and marketing of equipment and tools required for the sector. OWS, which started its services about five years ago, is keen on providing integrated services pertaining to managing logistical specifications as well as materials. Oil and gas explorations have now moved to new depths as companies scan potential sources.

By locating all dependent industries in the same zone, they will be able to save on administration, operations and resource costs. Another advantage is the vicinity of the Sohar Port. Both the port and free zone stand out from the rest of the region due to availability of raw materials in the port that have been produced by certain base industries. Downstream industries will benefit from such an arrangement.

Further, Oman is ideally a stable region with no imminent threats to business investments. The country offers a favorable business opportunity to investors. The conditions are likely to draw more investors to the Sohar Free Zone. Oman provides an investment-friendly climate, funding for serious projects, and sound policies promoting trade.

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