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AOC presently has the following two Agreements with Kuwait.
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(1) |
Crude Oil Sales Agreement |
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Contract partiesF |
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AOC and Kuwait Petroleum Corporation (KPC). |
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Contract periodF |
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Twenty (20) years from January 5, 2003. |
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Contract onF |
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KPC's sales of Khafji and Hout Crude Oil or Kuwait Crude Oil to AOC at 100 thousand barrels per day (The quantity of crude oil to be handled was changed to 40 thousand barrels per day in and after January 2010.). |
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(2) |
Facilities Agreement |
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Contract partiesF |
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AOC and KGOC. |
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Contract onF |
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AOC's provision of fund to KGOC to finance capital expenditure for KGOC's petroleum operations in the offshore Divided Zone. |
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| (gTechnical Services Agreementh which was concluded concurrently with the above two agreements was terminated on January 4, 2008 upon the expiration of the contract period of 5 years.) |
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(Note)
KGOC is a 100 % subsidiary of the state-owned KPC. |
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