Oman Oil Company S.A.O.C. (OOC), the Sultanate’s investment arm in the energy and energy related sectors, and Kuwait Petroleum International Ltd (KPI), the international subsidiary of Kuwait Petroleum Corporation (KPC), have recently signed agreements related to their partnership for the development of Duqm Refinery and Petrochemical Complex. The project is one of the most important industrial projects at Duqm Special Economic Zone.
The agreement was signed on behalf of OOC by Mr. Hilal Al-Kharusi, Executive Managing Director and Mr. Bakheet Shabib Al-Rashidi, CEO of Kuwait Petroleum International Ltd (KPI), at Al Bustan Palace Muscat; with the presence of number of their Excellencies Ministers, Undersecretaries and senior officials from both sides.
Commenting on this occasion, H.E. Dr. Mohammed bin Hamad Al Rumhi, Minister of Oil and Gas, Chairman of OOC, stated: “The Signing of this agreement reflects the distinguished ties between the Sultanate and Kuwait; and aims to open new horizons for wider economic cooperation to serve the common interests between the two brotherly countries.” He added, “This strategic partnership is an important step towards developing one of the most promising projects in the energy sector at Duqm Special Economic Zone. We hope that Duqm Refinery will act as an essential catalyst for different industrial sectors development as well as contributing to the economic and social development in the Sultanate in general and Al Wusta Governorate in particular.”