OQ, Madyan Sign Agreement for Assets Acquisition

OQ, Madyan Sign Agreement for Assets Acquisition

Oman’s OQ Gas Networks has signed an agreement with the Public Establishment for Industrial Estates (Madyan) to acquire its gas assets, Oman News Agency reported.
The agreement stated the transfer of the ownership and operation of Madyan’s gas distribution networks to OQ networks.
This acquisition came as a part of Oman’s Vision 2040, which aims to unify national efforts and in-country assets, in order to raise the efficiency level of the service sector, and achieve the best cost reduction solutions.
This agreement is supposed to support the transport and distribution of natural gas via OQ’s gas network, which covers five industrial estates in Sur, Sohar, Rusayl, Nizwa and Raysut.


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