press release

Chevron Press Release - Chevron Signs Technical Services Agreement With Kuwait Oil Company

SAN FRANCISCO, Aug. 8, 1994 -- Chevron announced today that it has signed a three-and-a-half year agreement with the Kuwait Oil Company (KOC) to provide technical assistance in the development and transportation of crude oil from Kuwait's supergiant Burgan Field.

Under the agreement, Chevron will provide training, access to its exploration and production technology, and managerial assistance at the Burgan Field in southeast Kuwait, as well as any other activities and fields mutually agreed upon by the parties. More specifically, the agreement covers technical assistance in the management of operations related to exploration, production, transportation, treating, delivering and export of petroleum.

"We're extremely pleased that Kuwait has recognized Chevron's world-class leadership in technology and technical services," said William E. Crain, director and vice president of exploration and production for Chevron Corporation. "This agreement will help to enhance Kuwait's production of oil for export markets. At the same time, we hope this relationship will grow for the mutual benefit of both parties."

The agreement was signed Saturday, Aug. 6, at a ceremony in Kuwait City by Mr. Crain and Mr. Khalid Al-Fulaij, chairman and managing director of KOC. Chevron also announced today that K. E. Godard was named general manager of the technical services agreement in Kuwait.

The contract also became effective Aug. 6, and involves an approximate six-month "mobilization period" during which an as-yet undetermined number of Chevron consultants will be sent to Kuwait, said Crain.

Updated: August 1994