KPC signs agreement with UK exports entity

Kuwait Petroleum Corporation (KPC) signed Monday a Memorandum of Understanding (MoU) with the UK Export Finance (UKEF) to provide financial support within the petroleum industry.

A press statement by the KPC indicated MoU included US$3 billion worth of loans and credit facilities for UK services and products invested into KPC oriented projects and its affiliated companies.

The accord – signed by KPC CEO Hashem Sayyed Hashem and UKEF’s head Gordon Welsh
in the presence of British Ambassador to Kuwait H.E. Michael Davenport – will help deepen
commercial and economic ties between Kuwait and the UK especially in credit facilities and
financial support.