(MENAFN) The Sultanate of Oman is set to invest a total of USD7 billion to establish oil storage facilities, a petrochemical plant and a refinery in Indonesia, according to official statements, Gulf Times reported.
Through the deal, the Indonesian government aims at reviving its oil and gas industry and boosting fuel output to help meeting the increasing demands amidst its 240 million population.
In this direction, the country has already granted 13 new oil and gas blocks to companies like Conoco Philips, Shell, Total and Statoil with combined investment commitments of USD155.8 million.
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