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Kuwait's Decision Makers - The Case For ETSAs & SPC's Position.
For many years, since 1994 when Project Kuwait was launched (see omt26KwtWhoJun29-09), KPC executives and Oil Ministry officials have been warning the National Assembly (parliament) that the group's local E&P arm KOC lacked the skills and technology required to limit rising oilfield operating costs as the reservoirs needed highly advanced management. They have warned that, unless the latest reservoir engineering as well as exploration and re-exploration techniques were used under 20-year enhanced technical support agreements (ETSAs) with the world's leading IOCs, the existing reservoirs would be seriously damaged. The SPC's 16 members have been unanimous in their support of the KOC arguments.
The KPC/KOC campaign for the proposed ETSAs has been particularly intense since 2005, when forecasts suggested that operating costs could rise to $7 or more as a result of MPs' opposition to these contracts. KOC executives have insisted that IOCs' role will, over the 20-year lifetime of the ETSAs yet to be signed, substantially lower operating costs through superior practices. There are other benefits from IOCs' involvement.
The IOCs will be able to develop more challenging reservoirs, beyond the technological capabilities of KOC, and transferring this technology to the upstream operator. A minimum local staff contribution of 60% will ensure that Kuwaitis develop the necessary technical and managerial skills. Even the most vociferous among Project Kuwait's opponents - an odd alliance of liberal, conservative and nationalist MPs - accept that KOC lacked the technologies and expertise to push ahead with the state's ambitious plans. ...
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Source: HighBeam Research, Kuwait's Decision Makers - The Case For ETSAs & SPC's Position.