In remarks carried by state news agency Kuna, Kuwait Petroleum Corp’s (KPC) chief executive Saad Al-Shuwaib said the project’s investors were still hoping to commission the 300,000 bpd refinery by 2013.
“We expect to obtain final approval … by the end of the year,” al-Shuwaib told Kuna.
The project has suffered years of delays.
After initial approval in 2006, it has yet to receive Beijing’s final nod.
Opec-member Kuwait said in September it hoped to get final approval from China in the first quarter, after which it would finalise the partners.
Kuwait will supply all the crude to the refinery and produce 1mn tonnes of ethylene per year.
State-owned KPC and Sinopec each hold a 50% stake in the joint venture, with KPC planning to give 20% of its share to international partners, it has said.
KPC was in talks with several international companies, al-Shuwaib said.
BP was linked with the project in 2007, but in 2008 appeared to be out of the running when Kuwait shortlisted Royal Dutch Shell and Dow Chemical Co as potential partners for refining and petrochemicals respectively. Kuwait said in September it had revived talks with BP. KPC plans to give 20% from its 50% stake to a potential international partner.
The refinery was originally planned in Nansha district, but mounting concern over its proximity to the densely populated area led to its relocation to the much-less populated Zhanjiang City.
