Major UK energy company BP has signed an agreement with Kuwait Petroleum Corporation (KPC) to explore possible joint opportunities in oil, gas and petrochemicals.

BP and KPC said the deal paves the way for joint investment and cooperation in oil and gas projects in Kuwait and worldwide.

Midstream and petrochemical projects would also be considered under the agreement, including potentially deploying BP’s proprietary PX technology as part of KPC’s petrochemicals plans.

“We look forward to working with KPC to help the people of Kuwait realize the full potential of their nation’s oil and gas resources and exploring new opportunities globally,” said BP’s CEO, Bob Dudley.

BP has been active in the country since it participated in the discovery of the giant Burgan oil field in 1938.