Middle East Economic Survey

VOL. XLVII

No 48

29-November-2004

OMAN

OOC Acquires 7.5% Stake In Spains Saggas Regasification Terminal Project

State-owned Oman Oil Company (OOC) announced on 23 November that it had signed an agreement with Spains Union Fenosa Gas and Union Fenosa to acquire 7.5% of their shares in Saggas, a company incorporated to build the Sagunto Resgasification Terminal in Valencia at a total cost of $432mn. The greenfield terminal and port facilities will be constructed in the...