$5 Billion Refinery Project Seeks Host Location in Gulf Cooperation Council
A proposed $5 billion refinery and energy export corridor project has moved into its final stage of selecting a host location. The consortium, MERA Oil, which includes MWG Enterprises, Patel Family Office, and PWS, an associate company of Saudi Arabia's AHQ Group, has shortlisted three locations across the Gulf Cooperation Council (GCC) after assessing possible sites for three years.
The project aims to create a more resilient export route during periods when shipping through the Strait of Hormuz is restricted or disrupted. The refinery would have a capacity of 200,000 barrels of crude oil per day and include deepwater port infrastructure, large-scale storage, and marine facilities capable of exporting fuels directly to international markets.
The consortium expects to choose its preferred host by the end of 2026. Once a host jurisdiction is selected, the project will proceed to final site due diligence and engineering design, with mechanical completion targeted for the end of 2029.