Sultan of Oman Inaugurates Duqm Refinery and Petrochemical Industries

Duqm, The Gulf Observer: Today marked a momentous occasion as His Majesty Sultan Haitham bin Tarik presided over the grand opening of the Duqm Refinery and Petrochemical Industries in the Special Economic Zone of Duqm (SEZAD). The esteemed event, graced by the presence of Sheikh Mishal Al Ahmad Al Jaber Al Sabah, Emir of Kuwait, witnessed a significant milestone in the deepening ties between Oman and Kuwait.

Upon their arrival at the project site, the two leaders were warmly received by key dignitaries, including Sultan bin Salim Al Habsi, Minister of Finance, Dr. Imad Mohammad Al Ateeqi, Kuwait’s Minister of Oil, and Abdulsalam bin Mohammed Al Murshidi, Chairman of Oman Investment Authority (OIA), among others. An interactive visual presentation titled “Journey of Energy,” delivered by young national cadres, provided insight into the stages of setting up the Duqm Refinery and Petrochemical Industries project.

The Duqm project, a collaboration between Oman’s OQ Group and Kuwait Petroleum International Company, represents the largest joint investment between the two nations, with a capital exceeding RO 3.5 billion (USD 9 billion). Abdulsalam bin Mohammed Al Murshidi, Chairman of Oman Investment Authority, emphasized the project’s significance, noting it as the largest investment in refineries and petrochemicals between Gulf countries.

Laid in 2018 by His Majesty Sultan Haitham bin Tarik, the foundation stone marked the beginning of a transformative venture. The Duqm Refinery is set to be the first Gulf refinery relying on imported crude oil, contributing to a significant increase in the Sultanate of Oman’s refining capacity to 500,000 barrels per day.

Simultaneously with the refinery’s inauguration, two supporting projects were completed: the Marafiq Company project, with an investment of RO 196 million, and the Oman Tank Terminal Company, with an investment of RO 200 million.

Sheikh Nawaf Saud Al Nasser Al Sabah, CEO of Kuwait Petroleum Corporation, expressed the importance of the Duqm Refinery in achieving Kuwait Petroleum Corporation’s strategic objectives, allowing it to discharge and refine both Kuwaiti and Omani crude oil. He highlighted the challenges facing the industry globally and emphasized the need for collaboration to ensure the refinery’s safe and profitable operation.

The climax of the ceremony witnessed His Majesty Sultan Haitham bin Tarik and the Emir of Kuwait unveiling the curtain, symbolizing the official opening of the Duqm Refinery and Petrochemical Industries. The leaders then toured the main control room, gaining insights into the refinery’s operations and production capacity, exceeding 500,000 barrels per day.

Commending the efforts of the male and female workers at the Duqm Refinery, Sheikh Mishal Al Ahmad Al Jaber Al Sabah expressed gratitude for the Kuwaiti-Omani partnership, envisioning future collaborations that strengthen the bonds between the two nations.

The ceremony concluded with a commemorative photo capturing the historic moment, attended by Royal Family members, ministers, and distinguished guests from Oman and Kuwait, marking a significant leap forward in the region’s refining and petrochemical industry.