State-owned Kuwait Oil Co (KOC) will set up an oil data room in parliament ahead of an expected heated debate on Wednesday of a controversial government plan to allow major international oil companies to operate domestic oil fields, according to reports.
The room "will contain data identical to that collected by majors," an official involved in the plan told Reuters on Saturday of the latest step by the new government which appears aimed at averting a possible clash in the elected parliament.
"It is purely technical information and our experts will be on hand to answer any questions," the official added of the data room in parliament which will be open to MPs only.
According to Al Watan Arabic daily, the lawmakers debated on Saturday a reply letter by Minister of Oil Adel Subeih, which included information and lists of names of all the foreign companies qualified to run the projects.
The paper quoted an MP as saying the former government had the information ready, but declined to present it to the parliament. He praised the transparency being exhibited by the new cabinet, which was formed in February after the previous government resigned over disputes with the lawmakers.
The oil sector was fully nationalized by 1980.
Kuwait, which sits on almost 10 percent of the world's oil reserves, hopes oil majors, investing $7 billion over 25 years, will use technology it lacks to double output from northern oilfields to 900,000 barrels per day (bpd) within five years under a fees-for-services accord, said Reuters – Albawaba.com
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