Odfjell has announced that its tanker terminal joint venture Odfjell Terminals, has entered into an agreement to sell its 29.75% indirect ownership in Oiltanking Odfjell Terminals & Co at Sohar Port & Freezone for around USD130mn. The transaction will bring a net gain of approximately USD90m for Odfjell Terminals. Oiltanking Odfjell Terminal Oman is a joint venture agreement (JVA) between Odfjell Terminals (29.75%), Oiltanking (29.75%) and Oman Oil Company (25%). Commissioned in 2008, the liquid storage terminal has a total capacity approaching 1,300,000 m3 for storage of petroleum, chemicals and liquid gas cargoes in a total of 66 tanks ranging in size from 700 to 55,000m3. (Oman observer)
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