OQ Gas Network and Madayn (Public Establishment for Industrial Estates) have virtually signed an Assets Transfer Agreement in Muscat by Eng. Hilal Al Hasni, CEO, Madayn and Eng. Mansoor Al Abdali, VP, Gas Network, OQ. The agreement was on transferring the ownership and operations of Madayn Gas Distribution Networks to OQ Gas Network (OQGN).
The Assets Transfer Agreement comes in line with Oman 2040 vision to enhance the efficiency of services sector in the Sultanate and to optimize costs. OQGN is the largest gas network in Oman with 4000 km of length spanning from production fields across the Sultanate reaching all consumers in the country.
The Assets Transfer Agreement was in line with Oman’s vision 2040 and aimed at unifying the national efforts and local assets to boost the efficiency of the Sultanate vital services sector and reinforcing the cost rationalization.
The agreement will further consolidate the process of natural gas transportation and distribution assets to be handled by OQ and covering five industrial locations: Sur, Suhar, Raysut, Nizwa and Rusayl which collectively served 98 gas consumers.
OQ representative by the Gas Network will transport and distribute the natural gas from the gas field to industries through gas supply stations and gas distribution network in the mentioned industrial areas.
On this occasion, Eng. Hilal Al Hasni stated, “Transferring Madayn Gas network to OQ is one of the big milestones in our path to integrate efforts to serve Oman’s industrial projects. We are glad to sign this agreement which will help provide more efficient services for Omani projects and will contribute towards achieving one of Oman Vision 2040’s important goals of facilitating progress of business and industry in the sultanate.”
On his part, Eng. Mansoor Al Abdali, VP, Gas Network at OQ stated “At OQ we do believe in the importance of the strategic collaboration with other public entities and ensure the best utilization of our national expertise to uplift the operations of Gas Network sector. We are pleased for signing this agreement and looking towards more achievements in this industry.”