By Ryu Jin
Staff Reporter
Oil-refining is an important industry in Korea which has virtually no energy resources and GS Caltex has taken the business one step further, exporting its technology to Oman.
GS Caltex provided its expertise in the construction of an oil refining facility in Sohar in April this year and is expected to achieve revenues of some $50 million in technology transfers by 2010.
The technology includes testing facilities as well as software, and GS Caltex is generally involved in providing the know-how for the operation of the oil-refining center.
GS Caltex won the contract for the technology transfer amidst strong competition with some 10 other oil refining companies in September 2003, company said.
``We are providing not only the hardware and the software but also training for the engineers for the efficient operation of the plant,'' said a GS Caltex official.
As part of the program, 20 engineers from Sohar have been invited to undergo related training at the GS Caltex plant in Yeosu, South Jeolla Province.
The relationship based on the Sohar project has been strong between GS Caltex and Oman in recent years.
Most recently, Korea and Oman established a friendship association with GS Caltex Chairman and CEO Hur Dong-soo heading the Korean side.
``The Sohar project and the Korea-Oman Friendship Association are just some of the efforts that GS Caltex is taking to enhance its relationship with the Middle East,'' the company official said.
GS Caltex Chairman Hur Dong-soo, left, shakes hands with Omani Petroleum Minister Mohammed bin Hamed Al Rumhy in front of a model of the Sohar oil-refining plant.