OQ and KPI Reaffirm Commitment to Oman Petrochemical Project

Published By DPRJ Universal | Published on Monday, 9 February 2026

OQ and KPI have reaffirmed their commitment to advancing the Oman Petrochemical Project, signing an agreement at KOGS 2026. The venture, crucial for regional cooperation, Oman Vision 2040, and Kuwait's downstream growth, aims to establish Duqm as a global petrochemical hub. Both companies are allocating resources and engaging partners, leveraging Duqm's strategic location and infrastructure to ensure the project's success and global competitiveness.

OQ and KPI have officially reaffirmed their steadfast commitment to the Oman Petrochemical Project, with a new agreement signed on the sidelines of the Kuwait Oil & Gas Show (KOGS 2026). The accord was formalized by Ashraf Hamed Al Mamari, Group Chief Executive Officer of OQ, and Shafi Taleb Al Ajmi, Chief Executive Officer of KPI. This strategic partnership underscores the project's pivotal role in bolstering regional cooperation and driving economic diversification efforts, aligning directly with Oman Vision 2040 and serving as a cornerstone of Kuwait's downstream growth strategy.Ashraf Hamed Al Mamari emphasized the exceptional platform their strong partnership provides, noting that OQ and KPI possess the necessary capabilities and resources to successfully propel the project forward. He also highlighted active engagement with potential partners who share the vision of transforming Duqm into a premier global petrochemical hub. Shafi Taleb Al Ajmi reiterated KPI's unwavering dedication to this transformative venture, expressing confidence in the project's robust fundamentals and affirming close collaboration with OQ to optimize its development framework. The joint venture leverages the complementary strengths and deep regional expertise of both companies, ensuring project continuity. Resources have been allocated, and technical teams are actively evaluating enhanced configurations to maximize the project's global competitiveness. The renewed commitment is a clear, future-focused effort to position Duqm as a globally competitive downstream hub, benefiting from its strategic location within the Duqm Special Economic Zone, established infrastructure, competitive feedstock access, and strong interest from both regional and international partners. This collaboration is set to advance Oman’s economic diversification while deepening energy cooperation across the Gulf region.