His Majesty opens Duqm refinery in presence of Emir of Kuwait

His Majesty Sultan Haitham bin Tarik presided this morning at opening ceremony of the Duqm Refinery and Petrochemical Industries Project in the Special Economic Zone at Duqm, 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 Sultan bin Salim Al Habsi, Minister of Finance; Imad Muhammad Al Ateeqi, Kuwaiti Minister of Oil; Abdul Salam bin Muhammad Al Murshidi, President of the Oman Investment Authority; Sheikh Nawaf Saud Al Sabah, CEO of the Kuwait Petroleum Corporation; Ahmed bin Hassan Al Dheeb, Vice Chairman of the General Authority for Special Economic Zones and Free Zones, and Mulham bin Bashir Al Jarf, Chairman of the Board of Directors of the OQ Group.

His Majesty and the Emir watched an interactive visual presentation, “The Energy Journey,” presented by a group of young executives. The presentation focused on the stages of establishing the Duqm Refinery and Petrochemical Industries Project and explained its economic significance.

The project will be the largest joint investment project between the Sultanate of Oman and the State of Kuwait. The OQ Group of Oman and the Kuwait Petroleum International Company are partners in the project, which has a capital exceeding three and a half billion Omani riyals.

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 symbolises the deep-rooted relations between the two countries since ancient times and represents a culmination of a common heritage. He added that both countries have joined forces to work on the Project, which is the largest investment project between two Gulf countries in the refinery sector.

The President added that the Project was honoured to have its foundation stone laid by His Majesty Sultan Haitham bin Tarik in 2018 and that today sees the result of a great effort.

He added that the project is located in the Special Economic Zone in Duqm, whose strategic importance is widely recognised, due to its unique location and the components and incentives it possesses that make it an attractive area for investments.

The President of the OIA explained that in conjunction with the opening of the Duqm Refinery, two other projects have been completed: the Marafiq Company project, which supports the refinery in terms of energy and water, with an investment of 196 million Omani riyals, and the Omani Tank Company project, which supports the refinery’s work in terms of storing oil in Ras Markaz, with an investment of 200 million Omani Riyal.

Sheikh Nawaf Saud Al-Sabah, CEO of the Kuwait Petroleum Corporation, also gave a speech in which he said that the commercial operation of the Duqm Refinery – the largest joint Gulf project – indicates the historic brotherhood between the Sultanate of Oman and the State of Kuwait.

He explained that after reaching full commercial operation, the project will achieve the strategic objectives of the Kuwait Petroleum Corporation, which seeks to enter into investment opportunities with global partners to develop its refining capacity in promising markets with the aim of reaching 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 worthy pause to appreciate the efforts 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 trend towards energy transformation. This, he said, requires working together to ensure the safe and profitable operation of the refinery, to become a global example of innovation and leadership in the worldwide 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.

His Majesty and the Emir then watched a presentation that told the story of the project from its very beginning right through to the project’s completion and opening, to create a global economic icon with a promising future.

His Majesty and the Emir then visited the main control room of the refinery to learn more about the various operations of the plant. They listened to a detailed explanation about how it raises the refining capacity of the Sultanate to more than 500 thousand barrels per day and makes it possible to secure the maximum benefit from petroleum materials.  They were also told about the role of the control room and its advanced systems to monitor the progress of supply line operations in accordance with the highest standards of security and safety.

In honour of the occasion, His Highness the Emir of Kuwait, accepted a memorial gift presented by the management of the Duqm Refinery and Petrochemical Industries Company.

The Emir then wrote a message in the register for VIP visitors, in which he praised His Majesty Sultan Haitham bin Tarik, the government and the people of Oman for their cooperation, which transforms the partnership between Kuwait and Oman, especially in investment in industries and petrochemicals, crystallising current and common future visions. He said he hoped for more cooperation aimed at consolidating 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, a memorial photo was taken that included His Majesty the Sultan,  His Highness the Emir and a group of executives from the Duqm Refinery and Petrochemical Industries Company.

The Duqm Refinery and Petrochemical Industries in the Duqm Special Economic Zone is the first Gulf refinery to rely on imported crude oil in its operations. It aims to stimulate oil projects in the Arabian Gulf region and enhance 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 programme.

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 the Al Wusta Governorate.

This is an unofficial English version of an Arabic report. To view the official Arabic text, click here.