Duqm Refinery Appoints Credit Agricole Cib as Financial Advisor

Duqm Refinery announces the selection of Credit Agricole CIB as the sole financial advisor for the $6 billion, 230,000 barrels per day, refinery located in the Special Economic Zone at Duqm in the Sultanate of Oman. Credit Agricole CIB, PFI Global Advisor of the year 2012, was selected from a shortlist of eight international banks. “As a financial advisor, CA-CIB’s will advise upon the prevailing fiscal environment, bankable commercial and contractual structure, and sources of finance” said Mubarak Al Naamany, CFO, Duqm Refinery. The Refinery is currently in the process of selecting the technology license and FEED contracts for the project.