SABIC, Kuwait Petroleum International, OQ to develop Duqm’s petrochemical complex

The signing of the agreement

Saudi Basic Industries Corp. (SABIC), Kuwait Petroleum International Co., and the OQ Group signed an agreement to develop a petrochemical complex in the Special Economic Zone at Duqm, according to Oman’s News Agency (ONA).

The complex includes a steam cracking unit, derivatives units, and a natural gas liquids extraction plant.

The agreement aims to conduct the necessary studies and achieve cooperation between the three companies to benefit from their extensive technical and commercial expertise to develop the complex and make it a global competitor.

ONA pointed out that the petrochemical complex targets to achieve revenues from natural gas liquids (NGLs) and other raw materials from Duqm refinery.

It will manufacture petrochemical products targeting developing markets related to diverse fields like energy, clean technologies, transportation, construction, commodities, health care, and packaging.