Kuwait renews BP technology accord
Kuwait Oil Co. (KOC) has renewed its agreement with British Petroleum Co. plc, under which BP provides technical advice and assistance in Kuwaiti oil production operations.
Members of the Organization of Petroleum Exporting Countries-of which Kuwait is one-are stepping up efforts to allow foreign operating companies to participate in their petroleum sectors (OGJ, July 29, p. 31, and Aug. 5, p. 26).
Meanwhile, KOC's downstream sister company Kuwait Petroleum Corp. has disclosed a plan to shut down its refinery at Stigsnaes in Denmark, reported Middle East Economic Survey (MEES).
BP work
BP first started work for KOC in 1992 on a 3 year program of projects including assessment of reservoir damage sustained during the Persian Gulf War of 1990-91.
BP has been working closely with KOC to increase oil reserves and plan future field developments, while advising on technical and organizational matters.
The new 3 year deal was said to involve BP in technical support for KOC's reservoir management, drilling and organizational development.
Refinery closure
MEES said KPC plans to close the 59,000 b/d refinery and convert it into an import terminal by April 1997.
KPC reportedly based the decision on the plant's limited conversion capacity and expected need for spending to meet environmental requirements, coupled with lack of potential for economies of scale.
KPC's markets in Denmark and Sweden will be supplied through a cooperation with Finland's Neste Oy, said MEES.
Neste's Porvoo refinery will provide 20,000 b/d of gasoline and middle distillates to KPC.
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