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Wed 23 Feb 2011 01:35 AM

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BP, Shell sign refining, exploration agreements with Kuwait

The BP accord covers both new fields inside Kuwait and a refinery project in China

BP, Shell sign refining, exploration agreements with Kuwait
MOU SIGNED: The agreements were sealed in Kuwait City on Tuesday during a visit by UK Prime Minister David Cameron (Getty Images)

BP and Royal Dutch Shell signed memorandums of understanding with Kuwait Petroleum Corp covering areas including exploration and refining.

The agreements were sealed in Kuwait City on Tuesday during a visit by UK Prime Minister David Cameron, who is touring the Middle East with a delegation of businessmen. Cameron’s officials were unable to give details of the accords, beyond saying that Shell had signed two and BP one.

The BP accord covers both new fields inside Kuwait and a refinery project in China, the company’s managing director for refining and marketing, Ian Conn, said in an interview. He refused to put a value on the agreement.

“This builds on other memorandums that we have already in place,” Conn said. “It’s a commitment to a deeper strategic cooperation in both Kuwait and other operations outside Kuwait.”

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