The oil major says it is hopeful of securing a contract which would move the initial deal on to specific project-based work.

“For the last 16 years we have had a technical service agreement with Kuwait and we are moving to the next stage of that,” BP’s Middle East exploration and production head, Steve Peacock, tells MEED.

“The idea is that it will be more project-specific, focusing on fields, and I think that is what will benefit Kuwait most.”

Peacock expects a deal to be concluded within the next three to six months.

The initial technical services agreement, signed in 1992, focused on providing reservoir and production management strategies to Kuwaiti state-run firms.