New Delhi, July 25: Indian Oil Corporation and ONGC Videsh have tied up with BP and Occidental, the global oil majors, to bid for producing oilfields in Kuwait. Britain's BP with 65 per cent stake is the leader of the consortium. Occidental of US has 25 per cent stake, while IOC and OVL have remaining 10 per cent interest, industry sources said.
The BP-led consortium is one of the three consortiums in race for Project Kuwait, which aims to increase production from a cluster of fields along the border with Iraq.

The others in race to manage and upgrade oilfields in northern Kuwait include a consortium led by ChevronTexaco with a 50 per cent stake; other partners are Total of France with 20 per cent and Petro-Canada, Russia's Sibneft and Chinese group Sinopec with 10 per cent each.
The third group is led by Royal Dutch/Shell and includes Exxon Mobil and Conoco Phillips.
Project Kuwait is a $7 billion, 20-year plan to increase the output of five northern oil fields -- Abdali, Bahra, Ratqa, Rawdhatain, and Sabriyah -- from 450,000 barrels per day (bpd) to around 900,000 bpd by the year 2006.
Bureau Report