Media

His Majesty Sultan Haitham bin Tariq, may Allah protect him, attended this morning the opening ceremony of the Duqm Refinery and Petrochemical Industries Project in the Special Economic Zone at Duqm (SEZAD), in the presence of His Highness Sheikh Mishal Al Ahmad Al Jaber Al Sabah, Emir of the State of Kuwait.

The two leaders were received at the project site, by H.E. Sultan bin Salim Al Habsi, Minister of Finance; H.E. Imad Mohamed Al Ateeqi, Kuwaiti Minister of Oil; H.E. Abdul Salam bin Mohamed Al Murshidi, President of the Oman Investment Authority; Sheikh Nawaf Saud Al Sabah, CEO of the Kuwait Petroleum Corporation; H.E. Ahmed bin Hassan Al Dheeb, Vice Chairman of the Public Authority for Special Economic Zones and Free Zones, and Mulham bin Bashir Al Jarf, Chairman of the OQ Group Board of Directors.

His Majesty and the Emir watched an interactive visual presentation, “The Energy Journey,” delivered by a group of young professionals. The presentation focused on the implementation stages of the Duqm Refinery and Petrochemical Industries Project, which is set to be the largest joint investment project between the Sultanate of Oman (OQ Group of Oman) and the State of Kuwait (the Kuwait Petroleum International Company) with a capital exceeding three and a half billion Omani rials. The presentation also highlighted the economic significance of the Duqm Refinery.

H.E. Abdul Salam bin Mohammed Al Murshidi, President of the Oman Investment Authority (OIA), delivered a speech in which he said that the opening of this joint project between Oman and Kuwait is a reflection of the long-standing deep-rooted relation and shared heritage between the two countries. Both countries have joined forces to implement the Project, which is the largest investment project between two Gulf countries in the refinery sector.

Al Murshidi added “the Project was honored to have its foundation stone laid by His Majesty Sultan Haitham bin Tarik in 2018 and that we are witnessing today the result of the efforts.

The project is located in SEZAD, whose strategic importance is widely recognized thanks to its unique location and advantages that draw in investments, he added.

In conjunction with the opening of the Duqm Refinery, two other projects have been completed: the Marafiq Company project, which supplies the refinery with power and water, with an investment of 196 million Omani rials, and the Omani Tank Company project, which will provide an oil storage facility for the refinery in Ras Markaz, with an investment of 200 million Omani Rials, Al Murshidi explained.

Sheikh Nawaf Saud Al-Sabah, CEO of the Kuwait Petroleum Corporation (KPC), also gave a speech in which he said that the commercial operation of the Duqm Refinery, the Gulf’s largest joint project, is an indication of the historic brotherhood between the Sultanate of Oman and the State of Kuwait.

He explained that after the Refinery is fully operational, the project will achieve the strategic KPC objectives, which are to engage in investment opportunities with global partners to boost its refining capacity in promising markets. The aim is to reach a refining capacity of 425,000 barrels of oil per day by 2025.

He added that today's celebration is not the last stop on the road to success, but rather it is a reminder of the hard work and dedication of the male and female workers at the Duqm Refinery to achieve the progress made so far. He said the oil and gas industry faces difficult challenges, the most important of which is the Global Energy Transition Trend. To this end, collaboration is necessary to ensure the safe and profitable operation of the refinery, to become a world-acclaimed venue for innovation and leadership in the refining industry.

His Majesty the Sultan and His Highness the Emir unveiled a memorial to commemorate the historic moment of the opening of the Duqm Refinery and Petrochemical Industries Project.

His Majesty and the Emir then watched a short presentation that told the story of the project from its very beginning right through to its completion and inauguration, to create a global economic iconic hub with a promising future.

His Majesty and the Emir then visited the main control room of the refinery to learn more about its different operations. They listened to a detailed explanation about how it increases the Sultanate's refining capacity to more than 500 thousand barrels per day and makes it possible to secure the maximum benefit from the petroleum materials.  They were also briefed about the role of the control room in monitoring different units through a cutting-edge control system to monitor the supply line operations in accordance with the highest standards of security and safety.

In honor of the occasion, His Highness the Emir of Kuwait, received a memorial gift from the management of the Duqm Refinery and Petrochemical Industries Company.

The Emir then wrote a message in the VIP visitor register, in which he praised His Majesty Sultan Haitham bin Tarik, the government and the people of Oman for their cooperation, which reflects the partnership between Kuwait and Oman, especially in investment in petrochemicals, solidifies their current and future common visions. He expressed his wishes for more cooperation aimed at strengthening the close relations that bring together Kuwait and Oman and achieve their interests for the good of their peoples.

At the conclusion of the opening ceremony, His Majesty the Sultan, His Highness the Emir and a group of executives from the Duqm Refinery and Petrochemical Industries Company took a memorial photo.

The Duqm Refinery and Petrochemical Industries in the Special Economic Zone at Duqm is the Gulf’s first refinery to run on imported crude oil. It aims at boosting oil projects in the Arabian Gulf region and enhancing the market position in the refining and petrochemical sector, in addition to creating business opportunities and supporting small and medium enterprises through the local added value program.

The opening ceremony was attended by a number of Their Highnesses and Excellencies, members of the Council of Oman, a number of Their Excellencies, the delegation accompanying His Highness the guest, a number of CEOs of Oman Investment Authority companies, CEOs of international oil companies, and a number of sheikhs and notables from Al Wusta Governorate.