Wedoany.com Report on Feb 10th, Oman Petrochemical Group (OQ) and Kuwait Petroleum International (KPI) recently signed an agreement during the 2026 Kuwait Oil and Gas Exhibition, committing to continue jointly advancing the development of the petrochemical complex project they co-own in the Duqm Special Economic Zone of Oman.

The agreement was signed by OQ Group CEO Ashraf Hamid Al Mamari and KPI CEO Shafi Taleb Al Ajmi. It reaffirms both parties' commitment to the project, which is seen as one of the initiatives to promote regional cooperation and economic diversification.

OQ Group CEO Ashraf Hamid Al Mamari stated, "Our strong partnership with KPI provides an excellent platform to advance this strategic collaborative project. Both OQ and KPI possess the capabilities and resources to successfully drive this project forward. We are actively engaging with potential partners who share our vision, working together to establish Duqm as a world-class petrochemical hub."

KPI CEO Shafi Taleb Al Ajmi added, "Kuwait Petroleum International, alongside our trusted partner Oman Petrochemical Company (OQ), remains steadfast in advancing this transformative project. The Oman Petrochemical Project is a cornerstone of Kuwait's downstream growth strategy and reflects the long-standing, robust partnership between our two countries."

According to the joint statement, the joint venture project will integrate the resources and technical teams of both companies. Optimization assessments are currently underway to enhance the project's market competitiveness. Located in the Duqm Special Economic Zone, the project's advancement will leverage the area's infrastructure conditions and feedstock supply advantages. This signing marks a step forward in deepening cooperation in the energy sector and promoting downstream industrial development.