Shell announced it has signed a Memorandum of Understanding (MoU) with Kuwait Petroleum Corporation to jointly investigate new business opportunities.
The MoU with KPC, covers areas of co-operation across the upstream and downstream businesses, energy security, research and development and in corporate areas such as human resources and planning.
The signing ceremony was witnessed by H.E. Sheikh Nasser Al-Mohammed Al-Ahmed Al-Sabah, Kuwait Prime Minister, and David Cameron, British Prime Minister. Also in attendance were Farouq Al-Zanki, Chief Executive Office of Kuwait Petroleum Corporation, and Sami Al-Rushaid, Chairman and Managing Director of Kuwait Oil Company.
Malcolm Brinded, Executive Director of Upstream International at Shell. After signing the MOU on behalf of Shell companies, Mr. Brinded said: “Today’s MOU further cements our partnership with Kuwait. We will look jointly with KPC and its subsidiaries at oil and gas opportunities to leverage Shell’s global experience while sharing best practice in the energy sector.”
Shell and Kuwait Oil Company (KOC) also announced a Training Plan to build capacity of Kuwaiti staff under an Enhanced Technical Service Agreement, signed in February 2010 to develop the country’s Jurassic gas fields.
Mr. Ahmed Mouti, Chairman and Managing Director of Shell companies in Kuwait, said: “Shell has a long track record of successfully managing complex gas projects and are recognised as a leading gas company. We very much look forward to building on our strong partnership with KOC through the signing of the MoU today”.
The training is required due to the unique geological challenges of the new gas developments which require technology and working practicesin this area.