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KPC Set to Sign Contracts Worth USD 5 Bln

Source: KUNA 2/15/2012, Location: Middle East

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Kuwait Petroleum Corporation (KPC) is set to sign agreements and contracts with international firms worth a total USD 5 billion over the next two days. The state-run oil company signed a contract to provide 20,000 barrels of crude and 300,000 tonnes of liquefied gas to a Thai firm on a daily basis, Managing Director of Global Marketing, Naser Al-Mudhaf said in statements to the press.

KPC also signed a contract to provide a daily 200,000 tonnes of liquefied gas, subject to increase, to Indian-owned Bharat Petroleum and another worth over USD 2.5 billion with Indonesia's Petromina. Al-Mudhaf expected more contracts to follow in the coming period, noting to the renewal of an important contract with a Chinese firm.

A golf competition he was attending here, is a great chance to meet representatives of some 70 oil companies, present at the KPC-hosted tournament, he said. Meanwhile, KPC Chief Executive Farouq Al-Zanki revealed talks were being arranged, over the next couple of days, to discuss joint projects between the Kuwaiti company and others from China and Vietnam.

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