OQ, the global energy investment group, and Kuwait Petroleum International (KPI), the international arm of Kuwait Petroleum Corporation (KPC), have signed a Project Development Agreement of a jointly owned petrochemical complex in the Special Economic Zone at Duqm (SEZAD). The agreement reaffirms both parties’ commitment to advancing the Oman Petrochemical Project. The move reflects the project’s strategic significance and its pivotal role in strengthening regional cooperation and driving economic diversification efforts in line with Oman Vision 2040.
The renewed commitment between OQ and KPI reflects a clear future-focused effort to position Duqm as a globally competitive downstream hub. The project benefits from its strategic location within the Duqm Special Economic Zone, well-established infrastructure, competitive feedstock access and strong interest from regional and international partners. Through this collaboration, the Oman Petrochemical Project in Duqm advances Oman’s economic diversification while deepening energy cooperation across the Gulf.