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Oman’s energy company OQ, Saudi Basic Industries Corporation (SABIC) and Kuwait Petroleum International (KPI) have signed an joint development agreement (JDA) to build a petrochemical complex in the Special Economic Zone Duqm (SEZAD) in Oman.
The petrochemical complex will comprise a steam cracker and derivative units and a natural gas liquid extraction facility, the state-run Oman News Agency reported.
No details were disclosed on the project cost or completion timelines.
In December 2021, SABIC signed a memorandum of understanding (MoU) with OQ to support the study for developing a petrochemical project in SEZAD during Crown Prince Mohammed bin Salman’s visit to the sultanate.
OQ and KPI are equal partners in the joint venture building the Duqm Refinery in SEZAD.
(Writing by P Deol; Editing by Anoop Menon)