IOCs submit plan for Project Kuwait

31 October 2003
Three groups of international oil companies (IOCs) submitted development plans on 27 October for the proposed Project Kuwait scheme. They are:

Group 1 - led by ChevronTexaco Corporationof the US and including Totalof France, Petro-Canada, Russia's Sibneft and Sinopec of China;

Group 2 - led by BP of the UK and including Occidental Petroleum Companyof the US and ONGC Videshand Indian Oil Corporation, both of India;

Group 3 - led by ExxonMobil Corporationof the US and including the Royal Dutch/Shell Group, ConocoPhillipsof the US and Maersk Oil & Gas of Denmark.

The plans were based on terms of reference drawn up by Kuwait Oil Company. In mid-August the three groups submitted their comments on proposed changes to the operating service agreement (OSA), which calls for an IOC to assist in more than doubling the oil output from the five northern oil fields to about 1 million barrels a day.

The next stage in the project implementation will be the issue of a request for proposals (RFPs) by the client, Kuwait Petroleum Corporation (MEED 5:9:03; 25:7:03).

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