PHOTO
Image used for illustrative purpose. Samsung Engineering's joint venture with Petrofac has landed a $2 billion contract package for work at the new Duqm refinery in Oman.
The $8.5 billion Duqm refinery in Oman will be fully operational by the end of the year, Kuwait News Agency (KNA) reported, citing Kuwait Petroleum Corporation (KPC) chief executive Sheikh Nawaf Saud Al-Sabah.
Upon completion, the refinery is expected to process around 230,000 barrels per day (bpd) of crude oil.
The Duqm refinery project in the Special Economic Zone at Duqm is a joint venture between Oman’s OQ Group and Kuwait Petroleum International, owned by KPC.
On the other hand, KPC’s local refining capacity rose from 800,000 bpd to 1.2 million bpd in the financial year 2022-2023, Al-Sabah said.
(Writing by P Deol; Editing by Anoop Menon)
(anoop.menon@lseg.com)
