Duqm petrochemical complex study nears completion
Published: 03:10 PM,Oct 01,2024 | EDITED : 07:10 PM,Oct 01,2024
The new complex will rely heavily on feedstock from the Duqm Refinery, including liquefied petroleum gas, naphtha, and natural gas from Oman.
MUSCAT, OCT 1
The study for the establishment of the Duqm Petrochemical Complex in Oman, near the Duqm Refinery, is expected to be completed next year. This significant project is a collaboration between Oman’s OQ Group, Saudi Arabia’s SABIC, and Kuwait Petroleum International (KPI). Once implemented, the complex is poised to bolster Oman’s position in the petrochemical sector. The project, initially delayed due to the global pandemic, is now back on track, with stakeholders gearing up for the next phase.
According to a report by Kuwaiti newspaper Alseyassah, OQ, SABIC, and KPI are currently coordinating key steps that must be addressed before construction begins. The Duqm Economic Zone, where the complex will be located, is seen as a strategic investment hub for both Gulf and international investors.
Sheikh Nawaf al Saud, CEO of Kuwait Petroleum Corporation, along with members of the board, recently reviewed the results of the study. After the review, directives were issued to enhance coordination between the Kuwaiti and Omani partners to accelerate the approval process and remove any hurdles that might delay the project's implementation. The report attributed the urgency behind this push to the success of the Duqm Refinery, a joint venture between Oman and Kuwait, which has fueled the need for the petrochemical complex to proceed without delay.
The new complex will rely heavily on feedstock from the Duqm Refinery, including liquefied petroleum gas, naphtha, and natural gas from Oman. The report also mentioned ongoing discussions to increase the refinery’s production capacity by 10 to 15% over the next year, aiming to raise daily output from 230,000 to 260,000 barrels. This effort includes upgrades to oil processing units and the exploration of waste conversion technologies, which will enhance efficiency and product diversity.
According to the report, the refinery's global reach is expanding, with rising demand from European and African markets driving efforts to diversify its product range. While Oman’s Sohar Refinery meets local demand, the Duqm Refinery is focused on supplying international markets with products that meet stringent global standards.
The report emphasised that the success of the Duqm Refinery can be credited to Kuwait Petroleum International’s extensive experience in managing refineries and marketing petroleum products worldwide. With this foundation, the Duqm Petrochemical Complex is expected to further strengthen Oman’s industrial and economic growth, solidifying its position as a key player in the global petrochemical market.
The study for the establishment of the Duqm Petrochemical Complex in Oman, near the Duqm Refinery, is expected to be completed next year. This significant project is a collaboration between Oman’s OQ Group, Saudi Arabia’s SABIC, and Kuwait Petroleum International (KPI). Once implemented, the complex is poised to bolster Oman’s position in the petrochemical sector. The project, initially delayed due to the global pandemic, is now back on track, with stakeholders gearing up for the next phase.
According to a report by Kuwaiti newspaper Alseyassah, OQ, SABIC, and KPI are currently coordinating key steps that must be addressed before construction begins. The Duqm Economic Zone, where the complex will be located, is seen as a strategic investment hub for both Gulf and international investors.
Sheikh Nawaf al Saud, CEO of Kuwait Petroleum Corporation, along with members of the board, recently reviewed the results of the study. After the review, directives were issued to enhance coordination between the Kuwaiti and Omani partners to accelerate the approval process and remove any hurdles that might delay the project's implementation. The report attributed the urgency behind this push to the success of the Duqm Refinery, a joint venture between Oman and Kuwait, which has fueled the need for the petrochemical complex to proceed without delay.
The new complex will rely heavily on feedstock from the Duqm Refinery, including liquefied petroleum gas, naphtha, and natural gas from Oman. The report also mentioned ongoing discussions to increase the refinery’s production capacity by 10 to 15% over the next year, aiming to raise daily output from 230,000 to 260,000 barrels. This effort includes upgrades to oil processing units and the exploration of waste conversion technologies, which will enhance efficiency and product diversity.
According to the report, the refinery's global reach is expanding, with rising demand from European and African markets driving efforts to diversify its product range. While Oman’s Sohar Refinery meets local demand, the Duqm Refinery is focused on supplying international markets with products that meet stringent global standards.
The report emphasised that the success of the Duqm Refinery can be credited to Kuwait Petroleum International’s extensive experience in managing refineries and marketing petroleum products worldwide. With this foundation, the Duqm Petrochemical Complex is expected to further strengthen Oman’s industrial and economic growth, solidifying its position as a key player in the global petrochemical market.