The invited companies are BP of the UK, the Royal/Dutch Shell Group,Italy's ENI, Total of France and ExxonMobil Corporation, ChevronTexaco Corporation, Conoco and Phillips Petroleum Company, all of the US.

Under the draft of an operating service agreement (OSA) issued to IOCs on 9 June, companies have been invited to form a three-member consortium from among the 17 companies prequalified for the position of non-operator.

A bidding consortium will comprise an IOC, which will take a minimum 30 per cent equity position and will be designated the role of operator. The other members will be non-operators, which will each hold at least a 10 per cent share. By 18 August, IOCs are due to inform KPC of the planned bidding consortia.

The successful consortium is expected to sign with KPC a 20-year OSA, with the possibility of a 10-year extension.

Project Kuwait is a $7,000 million scheme aimed at enlisting the support of IOCs to double oil production at the five northern fields to 900,000 barrels a day over four years. The fields are Rawdhatain, Sabriyah, Bahra, Abdali and Raqta.

Kuwait has long harboured plans to open up its upstream oil sector to IOCs. However, opposition from the National Assembly (parliament) - on the grounds that the scheme is unconstitutional - has got in the way. The draft of an enabling law was under consideration at the 9th session of parliament, which ended its four-year term on 4 June (MEED 18:5:01, Cover Story).