BP, Kuwait Petroleum sign cooperation deal

UK’s oil giant BP has signed cooperation deal with Kuwait Petroleum Corp (KPC) to explore possible joint opportunities for investment and development in future oil, gas, trading and petrochemicals ventures.

The agreement was signed by BP chief executive officer Bob Dudley and KPC chief executive officer Nizar Mohammad Al-Adsani.

The deal could pave the way for both companies to jointly invest and cooperate in oil and gas projects in Kuwait and around the world.

Opportunities for cooperation and investment in midstream and petrochemical projects globally will also be considered under the agreement, including potentially deploying BP’s proprietary paraxylene technology as part of KPC’s petrochemicals projects.

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