financial institutions have placed on
the project and the financing structure,
which is demonstrated by the fact
that the lending group comprises of
local, regional as well as international
lenders, Eng Isam said.
Three major projects under OOC were
recognised by major International
entities for the successful completion
of certain financing parameters. Oman
Oil Company Exploration Production
(OOCEP), Salalah Methanol Company
(SMC), and Salalah LPG collectively
received five different awards.
Oman Oil Company Exploration
Production (OOCEP), the upstream
vertical of OOC group of companies
secured $1bn in the pre-export finance
market amidst a critical period. OOCEP
was awarded by TXF as one of the
top ten deals recognised for being
innovative, having an influence on
market transactions and trade. OOCEP
was awarded the TXF Perfect 10: Middle
Eastern Commodities Finance Deal of
the Year 2017.
Salalah Methanol Company (SMC)
successfully secured a 12-year $728mn
recourse project finance facility from a
mix of international, regional and local
financial institutions. The facility will
be used to refinance SMC’s existing
debt, while the remaining $443mn
to be allocated to the development of
the ammonia plant. This achievement
was recognised, where the company’s
financing transaction won three
awards- Petchem Deal of the Year
2017 in the Middle East and Africa
by Project Finance International
(PFI), the Petrochemicals Deal of the
Year 2017 in MENA by IJGlobal and
Petrochemicals Project Financing of
the Year 2017 from TXF.Oman Gas Company (OGC) secured
partial financing of $640mn for the
Liquefied Petroleum Gas (LPG) project
in Salalah, with several international
banks and export credit agencies. This
project falls in line with the overarching
midstream strategic vision of the
company to become an international
LPG and condensate export hub. Salalah
LPG was awarded the Midstream Oil
and Gas Deal of the Year 2017 by the
IJGlobal.The successful financings within
OOC group of companies exhibits the
confidence in the financing communityand the lenders from all parts locally
and internationally towards both the
company and the country. This comes
along as a result of collective team
efforts within the group of companies
as well as the trust of the respective
financial houses and advisors, Eng.
Isam said.The international bodies who have
recognised OOC’s financing efforts are
Project Finance International (PFI),
which are the leading source of global
finance intelligence. IJGlobal, a project
finance and infrastructure journal, as
well as TXF, an award that is given to
the top ten deals that are recognised for
most innovative, market influencing
transactions within trade, commodity
and project financing.