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Kuwait Oil Company and BP discuss enhancing cooperation and developing mutually beneficial strategies, including the British firm’s visual proposal for a new partnership model with global energy companies.
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Kuwait Oil Company is working to implement changes in its contractual formulas with contractors. These changes will improve dealings, expedite documentation processes, and standardize terms across similar contracts.
As part of the oil sector’s strategy to engage international companies with advanced technology and expertise in enhancing productivity, delegations from such firms have started presenting proposals to Kuwait. Recently, a top-level delegation from the British company BP visited Kuwait, meeting with officials to explore opportunities for collaboration.
Informed sources informed Al-Rai newspaper that the delegation, comprising British Petroleum officials, met with the executive leadership of the Kuwait Oil Company. This meeting aimed to develop a comprehensive strategy for increasing refining capacity and exploring modern partnership methods with international companies possessing technology and experience in oil and gas production capacity enhancement.
The sources mentioned that the meeting focused on enhancing cooperation between Kuwait Oil Company and BP, aiming to develop mutually beneficial strategies. During the meeting, the British company presented a visual proposal for a new partnership model with international energy firms.
The sources emphasized the significance of engaging international companies, highlighting the need for measures such as enacting legislation to facilitate their operations in Kuwait smoothly.
The Kuwait Oil Company is working comprehensively to implement changes in its contractual formulas with contractors. These changes will improve dealings, expedite documentation processes, and standardize terms across similar contracts.
