OQ and Kuwait Petroleum International (KPI), the international branch of Kuwait Petroleum Corp. (KPC), have signed a Project Development Agreement for a jointly owned petrochemical complex in the Special Economic Zone at Duqm (SEZAD), Oman.
The agreement, signed on the sidelines of the Kuwait Oil & Gas Show (KOGS 2026) by Ashraf Hamed Al Mamari, Group CEO of OQ, and Shafi Taleb Al Ajmi, Chief Executive Officer of KPI, reinforces both companies’ commitment to moving the Oman Petrochemical Project forward. The move recognizes the project’s strategic importance and crucial role in enhancing regional collaboration and supporting economic diversification efforts in accordance with Oman Vision 2040.
Ashraf Hamed Al Mamari, Group Chief Executive Officer of OQ, commented: “Our strong partnership with KPI provides an exceptional platform to advance this strategic venture. OQ and KPI have both the capability and resources to drive the project forward successfully. We are actively engaging with potential partners who share our vision of establishing Duqm as a premier global petrochemical hub.”
Shafi Taleb Al Ajmi, CEO of Kuwait Petroleum International, added: “KPI maintains its steadfast commitment to this transformative project alongside our trusted partner, OQ. The Oman Petrochemical Project represents a pillar of Kuwait’s downstream growth strategy and reflects our enduring partnership with Oman. We remain confident in the project’s strong fundamentals and are collaborating closely with OQ to optimise its development framework.”
To assure project continuity, OQ and KPI formed a joint venture that combines complementary skills and extensive area understanding. Both corporations have allocated the necessary resources, and technical teams are actively investigating new configurations to increase the project’s worldwide competitiveness.
The renewed engagement between OQ and KPI demonstrates a clear future-oriented effort to promote Duqm as an internationally competitive downstream hub. The project takes advantage of its strategic location within the Duqm Special Economic Zone, well-established infrastructure, competitive feedstock availability, and considerable interest from regional and international partners. The Oman Petrochemical Project in Duqm contributes to Oman’s economic diversification while strengthening Gulf energy cooperation.
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