Kuwait, S. Korea discuss new cooperation
September 13, 2013 - 12:14:46 pm
SEOUL: Kuwaiti Deputy Prime Minister and Minister of Oil Mustafa Al-Shimali and South Korean Minister of Trade, Industry and Energy Yoon Sang-jick have shared the view that bilateral energy cooperation should be no longer limited to crude oil trading.
But also across a broad range of areas, Kuwait News Agency (KUNA) reported today.
On the sidelines of regional energy ministerial meeting in Seoul on Thursday, Al-Shimali showed Kuwait's eagerness to discuss new cooperation with South Korea anytime, such as refinery and petrochemical projects, noting that state-run Kuwait Petroleum Corporation (KPC) has recently opened its Seoul office to reinforce its energy ties with South Korea.
Al-Shimali also underlined that KPC's subsidiary signed a Memorandum of Understanding with South Korea's SK Energy last year to jointly develop a refinery and petrochemicals complex in Indonesia, expressing hope in activation of the project.
Kuwait Oil Tanker Co. has purchased oil tankers from South Korean shipbuilders as part of its strategy to modernize the fleet.
While the Kuwaiti government and companies have awarded South Korean companies for numerous oil and infrastructure-related projects, such as upgrade and expansion of refinery and construction of power stations in oil wells.
Al-Shimali called on more participation by South Korean companies in Kuwait's oil infrastructure projects. (QNA)