Oman Tank Terminal Company

What Oman Tank Terminal Company does

OTTCO, a wholly-owned subsidiary of OQ (the Sultanate of Oman's state-owned integrated energy conglomerate managed by the Oman Investment Authority), owns and operates a network of large-scale oil storage and export terminals on Oman's Indian Ocean coastline, ~1,000 km south of the Strait of Hormuz. The portfolio comprises three core facilities: Ras Markaz Crude Oil Terminal (up to 26 million barrels of crude storage with offshore Single Point Moorings serving Suezmax, VLCC and ULCC tankers, connected via an 80 km pipeline to the OQ8 Refinery in Duqm), the Duqm Liquid Export Terminal (3.7 million barrels of refined-product capacity handling Naphtha, Jet A-1, Diesel, HSFO, LPG, Sulphur and Pet coke) and the OOMCO Bunker Terminal at Port of Duqm (30,000 m3 tankage, operated under an O&M agreement with OOMCO). The company additionally provides 2 million barrels of floating storage and licensed Ship-to-Ship (STS) transfer services for petroleum, chemicals and bulk gaseous products at Mina al Fahal and other coastal locations.

The underlying technology stack is physical infrastructure rather than software: welded steel storage tanks, SPM buoy systems for offshore loading, 80 km cross-country crude pipeline, fenders/hoses for STS operations, and 24/7 centralised operations and maintenance capability. Operations are governed by QHSSE and sustainability frameworks and aligned with Oman's national Vision 2040.

The business model monetises storage through three contract structures — commercial leasing (subscription, spot to long-term, OTTCO retains 100% equity), joint-venture storage (5–20 year, 25–60% OTTCO equity) and sole-venture strategic-reserve arrangements (>20 year, fee-based O&M) — supplemented by usage-based STS service fees and a professional-services O&M book covering sister terminals. Pricing is quote-based and not publicly disclosed; revenue is anchored by recurring tank rental charges per cubic metre plus throughput-based handling fees. Customer segmentation is horizontal across international and national oil producers, consumers, traders and refinery operators; OQ8 Refinery (5.3M bbl anchor) and Occidental Petroleum (Ras Markaz partnership) are the named anchor customers. Distribution is direct enterprise sales, supported by a dedicated business-development team.

Name

Oman Tank Terminal Company

Legal name

Oman Tank Terminal Company LLC

Website

https://ottco.om

Company type

Private

Founded year

2014

Operating status

Operating

Short description

OTTCO, a wholly-owned subsidiary of OQ (Oman's state energy conglomerate), owns and operates large-scale crude and refined-product storage terminals at Ras Markaz and Duqm, serving global oil producers, traders, refiners and consumers with long-term storage, STS services, and O&M.

Ownership category

akta.pro rank

Product category

Oil Storage Terminal Services

NAICS

Petroleum Bulk Stations and Terminals (424710), Pipeline Transportation of Refined Petroleum Products (486910), Marine Cargo Handling (488320)

SIC

Wholesale-Petroleum Bulk Stations & Terminals (5171), Public Warehousing & Storage (4220)

akta.pro primary industry

Liquid Bulk Petroleum Terminals (Crude, Refined Products) (TLAHABAH)

akta.pro secondary industries

Marine Terminals & Port Storage (Jetties, Docking, Bunkering Interfaces) (EUALAEAG), Conventional Marine Fuel Bunkering (HFO/VLSFO/MGO/ULSFO) (TLAHAKAA), Oil & Gas Midstream & Pipeline O&M (Pipelines, Compressor Stations) (EUAEAGAF)

Keywords

• Crude oil storage
• Oil terminal operations
• Tank storage leasing
• Ship-to-ship transfer
• Energy logistics services

Headquarters

HQ city

Muscat

HQ country

Oman

HQ region

Middle East

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Supply Chain, Technology or R&D, Others

Revenue model

1. Leasing - Commercial Storage: Tank rental charges based on total cubic meters rented plus handling and services fees based on throughput. Spot contracts under 1 year and medium/long-term contracts over 1 year. OTTCO maintains 100% equity ownership of tank assets.
2. Joint Venture Storage: Medium to long-term commercial arrangements (5-20 years) with fixed storage charges including tank rental fee and handling fee. OTTCO equity shareholding ranges from 25% to 60% of tank assets.
3. Sole Venture - Strategic Reserves: Long-term contracts exceeding 20 years for security of supply and strategic reserves. OTTCO provides operation and maintenance services with fee charges.
4. Ship-to-Ship Services: STS services including licenses, permissions, floating tanks operation, and marine technical support for petroleum, chemicals and bulk gaseous products transfer between vessels.
5. Operations & Maintenance Services: Centralized management, operations and maintenance services for storage tanks across terminals including Ras Markaz, Duqm, and OOMCO Bunker Terminal.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

OTTCO owns, operates, and maintains a network of crude oil and refined product storage terminals across Oman — including the Ras Markaz Crude Oil Terminal (up to 26 million barrels), Duqm Liquid Export Terminal (3.7 million barrels of refined products), and OOMCO Bunker Terminal — and provides tank storage leasing (commercial, joint venture, and sole venture models), Ship-to-Ship (STS) transfer services, floating storage, and centralized operations & maintenance services to oil producers, consumers, traders, and refinery operators globally.

Product overview

Oman Tank Terminal Company (OTTCO) operates a network of world-class oil storage and export infrastructure across Oman, comprising three primary terminal facilities: Ras Markaz Crude Oil Terminal (up to 26 million barrels crude storage), Duqm Liquid Export Terminal (3.7 million barrels refined products), and OOMCO Bunker Terminal. The company offers complementary floating storage and Ship-to-Ship (STS) services, along with tank storage leasing arrangements (commercial, JV, and sole venture models) and comprehensive operations and maintenance services. All facilities are aligned with Oman Vision 2040 for energy infrastructure development.

Differentiator

Problem solved

Functional benefit

Products and services

• Ras Markaz Crude Oil Terminal A crude oil storage terminal located at Ras Markaz on Oman's Indian Ocean coastline, offering up to 26 million barrels of crude oil storage capacity with pipeline connectivity and offshore Single Point Mooring facilities for Suezmax, VLCC, and ULCC tankers. Purpose is to provide long and short-term strategic storage options for oil producers, consumers, and traders south of the Arabian Gulf and Strait of Hormuz.
• Duqm Liquid Export Terminal A refined product storage and export facility at Duqm Port, operated exclusively by OTTCO for the OQ8 refinery. Handles Naphtha, Jet A-1, Diesel, HSFO, LPG, Sulphur, and Pet coke with 3.7 million barrels total finished products storage capacity.
• OOMCO Bunker Terminal A bunker terminal at Port of Duqm operated by OTTCO under an O&M agreement with OOMCO, featuring 30,000 m3 tankage on 50,000 sqm, capable of storing heavy fuel oils and lighter distillate products with marine lubricants availability.
• Floating Storage and Ship-to-Ship (STS) Services Ship-to-Ship (STS) transfer services and floating storage operations across Oman, including at Ras Markaz and Duqm, providing flexible and safe transfer operations for petroleum, chemicals, and bulk gaseous products. Includes STS licenses and permissions, floating tank operations, fully equipped fenders, hoses and auxiliary equipment, a dedicated STS Operations Team, and marine technical support.
• Tank Storage Services (Leasing, JV, and Sole Venture) Commercial tank storage leasing service offered under three models: Leasing (spot contracts under 1 year and medium/long-term contracts over 1 year, 100% OTTCO equity ownership of tanks); Joint Venture Storage (5-20 year commercial and strategic arrangements with 25-60% OTTCO equity shareholding and fixed tank rental + handling fees); and Sole Venture (long-term contracts exceeding 20 years for security of supply and strategic reserves with operations & maintenance services).
• Operations & Maintenance Services Comprehensive centralized operational excellence and maintenance services for crude oil handling and refined product exports across OTTCO's terminal network (Ras Markaz, Duqm, OOMCO Bunker Terminal), emphasizing safety, reliability, and environmental stewardship.

Quantifiable outcome

• Phase 1 operational from 2022 with 25 million barrels crude storage capacity
• +2 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered core.

• Occidental PetroleumcoreStrategic or Co-development Partner · 12 October 2017OTTCO and Occidental Petroleum signed a deal for the Ras Markaz Crude Oil Park in October 2017. This partnership established commercial crude oil storage arrangements at the Ras Markaz terminal facility.
• Port of Duqm CompanycoreStrategic or Co-development Partner · 7 July 2017OTTCO signed a Usufruct Agreement for the establishment of Ras Markaz Crude Oil Park with Port of Duqm Company in July 2017. Additionally, two agreements were signed in April 2021 regarding the usufruct and berth operation licence of the liquid terminal.
• OQ8 RefinerycoreStrategic or Co-development PartnerOQ8 Refinery is building and utilizing 5.3 million barrels of storage at Ras Markaz Phase 1, connected via 80km pipeline to Duqm. Potential pipeline connection with Oman's Main Oil Pipeline at Nahada (440km away) is being assessed for blending and export of Oman South/Central crude oil and condensate.
• OOMCO (Oman Oil Marketing Company)coreImplementation/ SI/ Consulting PartnerOOMCO constructed a greenfield bunker terminal at Port of Duqm on 50,000 sqm with 30,000 m3 tankage. OTTCO and OOMCO have signed an O&M agreement for both the terminal and marine operations. OTTCO is assessing development of additional capacity on remaining 30,000 sqm land.
• OQ (Parent Company)coreStrategic or Co-development PartnerOTTCO is a subsidiary of OQ (formerly Oman Oil and Orpic Group). OQ is a government-owned energy investment and development company managing oil and gas, refining, petrochemicals, trading, power generation, and infrastructure. OTTCO aligns with OQ's global strategy for international growth through M&A initiatives.

Scale indicators9 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Royal Vopak: World's largest independent tank storage operator with ~30 million cbm capacity across 70+ terminals. Directly comparable to OTTCO as a global liquid bulk storage provider serving oil producers, traders, and consumers with similar contract structures and STS services.
• VTTI (Vitol Tank Terminals International): Independent tank storage company with ~9 million cbm capacity across global terminals including Fujairah (UAE). Closely comparable to OTTCO's refined products and crude oil storage business with focus on trading customers and strategic locations.
• Oiltanking: Global tank storage subsidiary of Marquard & Bahls with ~18 million cbm capacity worldwide. Directly competes with OTTCO in midstream liquid bulk storage, including petroleum terminals, refined products, and bunker fuel infrastructure.

Broad incumbents

• Horizon Terminals (ENOC Group): UAE-based fuel storage and bunkering operator owned by Emirates National Oil Company. Comparable as a regional Gulf liquid bulk storage and bunkering player serving similar oil producer/trader customers.
• Abu Dhabi Ports (AD Ports Group): UAE port operator including Fujairah which has regional liquid bulk and bunkering storage. Comparable as a sovereign-linked Gulf port/storage infrastructure operator with overlapping customer base in oil trading.
• Adani Total Pvt Ltd (ATPL) - Mundra Terminal: Operates one of India's largest crude oil and petroleum product storage terminals at Mundra. Comparable to OTTCO's role as a strategic Indian Ocean storage hub serving South Asian crude import demand.

Regional players

• GFH Financial Group's Bunker Holdings: Bahrain-based marine fuel storage and bunkering operator in the Gulf region. Comparable to OTTCO's OOMCO Bunker Terminal operations serving marine fuel customers in the Arabian Sea.
• Petroleum Development Oman (PDO) Infrastructure: Oman's largest oil producer and operator of upstream storage/gathering infrastructure. Comparable as an Omani energy infrastructure operator, with potential pipeline connectivity to OTTCO's storage network.
• International Maritime Industries (IMI): Saudi Arabia-based maritime and offshore services provider with marine terminal infrastructure. Comparable as a regional Gulf industrial-scale energy infrastructure operator serving upstream and downstream customers.

Others

• Suez Canal Services & Marine Terminals: Egyptian state-owned waterway and storage infrastructure serving similar Mediterranean-to-Indian Ocean oil trade routes. Comparable as strategic maritime energy infrastructure providing similar supply chain diversification.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/ottcooman

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Oman Tank Terminal Company