18 Jul 2025 Issue: 68 / 29 By: Jamie Ingram
Buoyed by new political support, Kuwait’s KPC is optimistic that it is firmly on an upwards trajectory. KPC’s CEO sat down with MEES to discuss the firm’s recent exploration successes and its plans to roll out a new contract model to stimulate IOC investment.
It’s a new dawn for Kuwait’s oil and gas sector, with state energy giant KPC welcoming a more collaborative relationship with the political leadership following the suspension of parliament last year (MEES, 17 May 2024). KPC oversees the oil and gas sector which underpins Kuwait’s economy, providing upwards of 90% of government revenues, but it has had to push back long-standing targets in recent years amid a decline in crude oil production capacity (MEES, 20 December 2019). The trajectory is now upwards, with operations aided by a more supportive political environment.
CEO Sheikh Nawaf Al Sabah acknowledges that KPC decision-making has previously been impacted by political interference. Speaking with MEES at the 9th Opec International Seminar in Vienna last week, he says “we continue to have political interference in Kuwait. But now the political interference has been extremely positive. Now the leadership is coming to us and saying, ‘Tell us what you need and we will make that available to you.’ It is a firm belief in the ability of KPC to deliver on its goals, and it is a strong desire by the political leadership to help us transform KPC.” (CONTINUED – 1295 WORDS)
Read this article for free
Gain access to over 60-years of energy analysis and news
-
Delve into the details backed by data
-
Exclusive information from high-level officials
-
Assess future risks and opportunities
Subscribe Now or Login to get full access to this article
IN THIS ARTICLE
Charts
1: KOC Oil* Drilling & Workovers: Wells Drilled Hits Seven-Year High, With Workovers At Record Levels
2: KOC’s Non-Associated Gas Output Gradually Increasing (mn cfd)
Maps
Kuwait/Saudi Neutral Zone: Oil Infrastructure
REFERENCED MEES ARTICLES
Get Our Headlines Weekly
Keep abreast with current events with our weekly headlines.
You’ll also be notified of our free articles & maps.
By signing up, you agree to receive promotional emails. You can unsubscribe at any time. For more information, read our privacy statement.