MONITORING DESK
ISLAMABAD: Three energy giants Kuwait Petroleum International (KPI), OQ and SABIQ on Thursday inked a Project Development Agreement for a jointly-owned petrochemical complex in the Duqm Special Economic Zone (SEZAD), Oman.
The three companies aimed to establish a petrochemical complex consisting of derivative units, steam cracker and a natural gas liquid (NGL) extraction facility.
Energy firms aim to develop project with unique features
The energy firms will conduct required studies and collaborate using their wealth of commercial and technical experience to develop the project with unique features that make it a globally competitive and profitable for all HREE partners.
The agreement was signed by CEO of Kuwait Petroleum International Shafi Taleb Al-Ajmi, SABIC CEO Abdulrahman bin Saleh Al Fageeh and OQ Group CEO Talal bin Hamed al Awfi.
The joint project plans to deploy state-of-the-art technologies to minimize carbon pollution and incorporate circular economy aspects and follow high environmental standards.
