The Integrated Gas Company (IGC) has approved the transfer of the BP Block 61 Ghazeer Gas Export Pipeline (Phase 2) to OQ Gas Networks (OQGN), following a comprehensive technical and commercial review of its proposal.
As Oman’s designated gas aggregator and shipper for the national gas pipeline infrastructure, IGC is mandated to review and endorse asset transfers involving the country’s gas network.
Acting in coordination with the Ministry of Energy and Minerals (MEM) and the Ministry of Finance (MOF), IGC confirmed that the transaction aligns with the approved regulatory framework and that the asset valuation of RO40 million ($104 million) reflects the parameters set under the regulated system.
IGC affirmed that the approval is consistent with its core mandate to ensure transparent governance, fair valuation, and the long-term sustainability of Oman’s gas infrastructure.
The decision further underscores the company’s commitment to maintaining coherence across the national gas transmission network and supporting the Sultanate’s broader energy strategy in full compliance with regulatory requirements.
According to IGC, the transfer of the 65-km strategic pipeline is expected to strengthen the national gas grid, enhance operational efficiency, and improve reliability and connectivity across Oman’s energy system.
The approval reinforces IGC’s continuing role in ensuring sound valuation, regulatory compliance, and operational coordination as part of its responsibility as Oman's sole gas aggregator and shipper of natural gas pipeline infrastructure, it added.
Send us your company’s news today and they could be featured on ABC’s Community News tommorow.
