France’s energy giant TotalEnergies has joined forces with Kuwait Oil Company (KOC), a subsidiary of the state-owned Kuwait Petroleum Corporation (KPC), to strengthen their cooperation, exchange expertise, and conduct technical studies.
The duo’s memorandum of understanding (MoU) includes studies related to new exploration opportunities in the country, for which TotalEnergies will mobilize its technical expertise.
The signing ceremony took place in the presence of Patrick Pouyanné , Chairman and Chief Executive Officer of TotalEnergies, Sheikh Nawaf Saud Al-Sabah , CEO of Kuwait Petroleum Corporation, and Ahmad Jaber Al-Eidan , CEO of KOC.
Pouyanné underlined: “We are pleased to strengthen our cooperation with Kuwait Oil Company through this MoU, which reflects our shared ambition to contribute to Kuwait’s objectives in developing its resources. The studies to be carried out will help inform future projects, while further deepening our long-term relationship with Kuwait.”
This comes at a time when the country’s national oil company (NOC) revealed plans to engage foreign energy players in the development of its recent hydrocarbon discoveries.
Aside from the discovery in the Jazah offshore field, KOC made another significant discovery at the Al-Julaia marine field, and a light oil and associated gas find at the Al-Nokhatha field.
TotalEnergies is working on multiple projects, including the resumption of the construction of a liquefied natural gas (LNG) development off the coast of Mozambique.