OMPET was formed in fourth quarter 2013 as a joint venture between Oman Oil Company (50%), LG International Inc. (30%) and Takamul Investment Company (20%). 

The project is the development of a large scale (1100KTA) PTA (Purified Terephthalic Acid) Facility, located 250 Km North of Muscat in the Sohar Port Industrial Zone (“Sohar”), in the Sultanate of Oman.