Kuwait Seeks Partner for Major Petrochemicals Project in Oman

Kuwait is actively searching for a partner to collaborate on a slated petrochemicals complex in Duqm, Oman. Despite Saudi Arabia's SABIC pulling out of the venture, Kuwait remains committed to proceeding with Oman if no alternative investor emerges, according to Kuwaiti Oil Minister Tariq Al-Roumi.

Kuwait is on the lookout for a potential partner to drive a planned petrochemicals complex located in Oman's Duqm region. The search for collaboration was reiterated by Kuwaiti Oil Minister Tariq Al-Roumi, who stated Kuwait's readiness to proceed with Oman if no suitable investor is found.

Following the exit of Saudi Arabia's SABIC from the venture, Oman's state energy company OQ has been in discussions with other potential partners to ensure the project's advancement. The development is deemed crucial for enhancing regional energy cooperation and boosting economic growth.

Minister Al-Roumi's comments underline a commitment to furthering bilateral ties between Kuwait and Oman, signaling a strategic move to foster stability and growth within the Gulf region's petrochemical industry.

(With inputs from agencies.)