Kuwait Petroleum Corp inks MoU with Oman Oil for Duqm Complex deal

Kuwait Petroleum Corporation (KPC) has signed a memorandum of understanding with Oman Oil Company to cooperate on the development of the Duqm Refinery and Petrochemical Complex, as per gulfbusiness.com. The MoU is to own, manage and operate a refinery and later a petrochemical complex at the site. The complex, located within the Duqm Special Economic Zone in Oman’s Al Wusta Governorate, is intended to process 230,000 bpd of crude oil.

Duqm Refinery and Petrochemical Industries Company was founded as a joint venture between Oman Oil Company and Abu Dhabi’s International Petroleum Investment Company (IPIC) in 2012.

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