Middle East Economic Survey


No 20



ExxonMobil Back In Frame For KOC Heavy Oil Project

State-owned Kuwait Oil Company (KOC) has restarted talks with ExxonMobil for a service contract for a 270,000 b/d project to develop heavy oil in the north of Kuwait, KOC Chairman Sami Rushaid said on 11 May. The US major signed a heads of agreement in 2007 but, MEES understands, ExxonMobils demand to take a stake in the project was viewed by Kuwaiti officials as politically untenable...