MUSCAT, 15 July 2003 — Oman yesterday ordered two gas tankers worth $300 million from Japanese and South Korean companies, the official ONA news agency reported.
Oman signed a $149-million contract with Japan’s Kawasaki Heavy Industries and Mitsubishi Heavy Industries to build a tanker capable of holding 145,000 cubic meters (5.12 million cubic feet) of Liquefied Natural Gas (LNG), ONA said.
The sultanate also signed a contract worth $150.5 million with South Korea’s Samsung Heavy Industries for a tanker with a capacity of 147,000 cubic meters (5.19 million cubic feet), the agency added.
The two tankers, which will be delivered end-2005 and operational in 2006, will be used to transport LNG to Asian and European markets, Economy Minister Ahmed ibn Abdul Nabi Mekki said. With delivery, Oman will have four such tankers.
Oman, a small non-OPEC oil producer, has put its proven gas reserves at around 660 million cubic meters (23 trillion cubic feet), with potential reserves more than double that figure.