Amir of Kuwait Initiates Official Visit to Oman, Commemorates Al-Duqm Refinery Inauguration
Kuwait City, The Gulf Observer: His Highness the Amir of Kuwait, Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah, is set to embark on a significant visit to the Sultanate of Oman on Tuesday. The visit holds great importance as it involves summit talks with Sultan Haitham bin Tareq and the auspicious inauguration of the Al-Duqm refinery and petrochemical complex, a colossal venture symbolizing the thriving partnership and economic and strategic cooperation between the two Gulf Cooperation Council (GCC) nations over three decades.
The Al-Duqm refinery and petrochemical complex, initiated by Kuwait and Oman, marks a historic milestone in the Al-Duqm region’s development. Positioned on a sprawling 900-hectare coastal site, the $8.5 billion project is a joint venture between the Omani International Energy Integrated Company (OQ) and Kuwait Petroleum International (Q8). The refinery’s initial capacity is projected at refining 230,000 barrels of Kuwaiti crude oil per day, producing vital products such as diesel, aviation fuel, naphtha, and liquefied petroleum gas.
With Kuwait Petroleum Corporation securing 65 percent of the refinery’s crude oil resources, the project is anticipated to transform the Al-Duqm region into a pivotal regional energy hub with viable affiliate industries.
Kuwait and Oman’s enduring relationship has evolved significantly over the past three decades, encompassing cooperation agreements at political, economic, cultural, tourist, and artistic levels. The strong bond between the two nations was evident in 1990 when Oman steadfastly stood by Kuwait in the face of Iraqi aggression.
In a display of gratitude, the late Amir Sheikh Jaber Al-Ahmad Al-Jaber Al-Sabah visited Oman in 1991. Subsequently, in 2009, Sultan Qaboos was honored with the Order of Mubarak the Great during his visit to Kuwait. The deepening ties between the nations were further reinforced with the exchange of awards and numerous cooperation agreements.
Both countries formed a joint committee in 2003 to address common economic, commercial, and tourist concerns, with the latest meeting in Muscat in March 2023 resulting in five memoranda of understanding. The multifaceted relationship extends to economic collaboration, with Kuwait Fund for Arab Economic Development executing 23 projects in Oman, and Kuwait’s investments in the Oman Fund for Fixed Income reaching approximately KD 3 million ($26.4 million).
The visit by His Highness the Amir marks a momentous occasion in the continued strengthening of bilateral ties and heralds a new chapter in the prosperous collaboration between Kuwait and Oman.
