Agreements were signed for the implementation of Oman’s first liquefied petroleum gas (LPG) extraction plant with a USD826mn investment designed to further unlock the economic and commercial potential of the Sultanate’s hydrocarbon resources. The strategically important project is being developed by Oman Gas Company SAOC (OGC), the midstream vertical of the government’s energy and strategic investment arm Oman Oil Company SAOC (OOC), at a site located within Salalah Free Zone. Revenues from the venture, centering on the export of much of the plant’s output of around 300,000 tonnes of LPG, is estimated at USD200mn per annum, once the project is operational by 2020.