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Kuwait Petroleum Company (KPC) are expected to be awarded a licence to explore for oil off the coast of Vietnam by the state-owned energy company Petrovietnam.
Reuters reported that Kuwait oil minister Sheikh Ahmad al-Abdullah al-Sabah had proposed the production sharing contract, which will cover the offshore block 51, while on a visit to the south east Asian country.
KPC has a number of other interests in Vietnam including two other offshore blocks, 19 and 20, as well as a 35% share of a US$8 billion 200,000 barrels per day refinery project currently being constructed in the country.
