Oman inks $1.2B port deal with Nippon Steel

MUSCAT: Petroleum Development Oman signed Thursday a $1.2 billion deal with Japan’s Nippon Steel & Sumitomo Metal (NSSM) to further develop the southern port of Duqm, a statement and official media said.

Under the five-year deal, PDO would obtain from Nippon Steel “piping for its drilling operations” and “a new supply yard in the Duqm Special Economic Zone,” the Omani company said in a statement.