Oman Oil and Orpic group plans to launch the Sohar Refinery Improvement Project (SRIP), Zawya reported Citing Muscat Daily.

The $2.7 billion project will be inaugurated under the patronage of the Omani Minister of Oil and Gas, Mohamed Al Rumhi.

The project aims to maximize the value of Omani crude oil to fulfill the increasing demand for oil and refined products nationally and internationally.

Sohar Refinery is anticipated to increase the economic benefits of the country, as well as generate around 300 permanent jobs, 900 indirect jobs and huge in-country value opportunities to local businesses.