The Clap
SABIC (2010), Kuwait Petroleum International, and OQ signed an agreement to develop a jointly owned petrochemical complex in the Special Economic Zone of Duqm in Oman.
What
The three companies are looking to establish a petrochemical complex consisting of a steam cracker, derivatives units, and a natural gas liquids extraction plant.
The necessary studies will be conducted to develop the complex and make it a global competitor.
So What
The project aims to generate revenues from natural gas liquids and other raw materials from Duqm Refinery in order to manufacture petrochemical products targeting developing markets related to a number of fields.
Now What
The partners will use the latest technologies in this project to reduce the carbon footprint, incorporate aspects of the circular economy, and adhere to high environmental standards.
