KUWAIT: 1962 — Kuwait Amir Sheikh Abdullah Al-Salem Al-Sabah decrees forming Kuwait Public Transport Company (KPTC), with a KD one million (USD 3.2 million) capital.

1991 — Kuwait and the United States of America sign a 10-year defense treaty stipulating the defense of Kuwait against external aggression, promotion of peace and stability in the Gulf states.

1994 — Kuwait signs the Convention on Nuclear Safety (CNS) for maximum safety at nuclear reactors.

2000 — The Kuwaiti shooter Fehaid Al-Daihani wins the first Olympic medal for Kuwait, ranking third in the double trap competition of the 27th Olympic tournament held in Sidney, Australia.

2001 — The International Atomic Energy Agency (IAEA) elects Kuwait member of the IAEA Board of Governors.

2002 — The Ministry of Communications slashes rates of international calls reaching 70 percent with some countries.

2010 — Kuwait and Russia sign a memorandum of cooperation in the realm of peaceful usage of nuclear energy.

2010 — Kuwait Fund for Arab Economic Development (KFAED) lends Kenya KD 5.9 million (USD 19.3 million) to overhaul the transports sector.

2018 — KFAED signs an accord with Jordan to reschedule debts estimated at USD 300.7 million.

2021 — Kuwait chairs the IAEA 65th session for the first time since joining the agency five decades back.

2022 — The seismological center reports a 3.3. degree quake on the Richter Scale near Al-Abdali.

2023 — The ministry of oil declares winning four sears in the executive committees of the World Petroleum Council between 2023 and 2026. — KUNA

KUWAIT: Kuwait Oil Company (KOC) officially launched commercial oil and gas production at the Mitribah field in the country’s northwest on Thursday, marking a milestone in the company’s operational strategy and reinforcing Kuwait’s position on the global oil map. KOC Chief Executive Officer Ahmed Al-Aidan said during a ceremony in Ahmadi, held under the patronage of Oil Minister Tareq Al-Roumi, that the achievement was more than the completion of a successful project.

“Mitribah has long been considered a major challenge, and today it has become a true success story, demonstrating what can be achieved when ambitious vision meets firm determination and effective execution,” he said. Al-Aidan noted that the field is now part of the company’s productive assets, providing a significant boost to its strategic plans. “This step supports Kuwait in achieving its strategy to reach an oil production capacity of 4 million bpd by 2035,” he added.

Al-Aidan recalled his personal connection to the site, having followed its progress as a geologist since the late 1990s. He added that the launch comes at a pivotal moment for KOC, which recently underwent a major restructuring aimed at greater efficiency and clearer direction. One outcome of the reorganization was the creation of the New Exploration Group, established to accelerate exploration-to-production cycles, particularly in unconventional and complex reservoirs. Mitribah, he said, stands as the first major achievement under this new framework.

Al-Aidan praised the work of geologists, engineers, planners, operators and technical support teams who overcame infrastructure challenges and deployed advanced technologies with high efficiency. He also commended the role of partners and contractors, stressing that their collaboration was vital to success.

Commercial production at Mitribah officially began on June 15, 2025, after several wells were connected to KOC’s production facilities. The field covers more than 230 sq km in a previously undeveloped area lacking infrastructure. Light crude with commercial potential was first discovered there in 2009, but the presence of high concentrations of hydrogen sulfide gas — up to 40 percent — delayed production.

Oil Minister Al-Roumi described the achievement as an important milestone for KOC, the result of nearly two decades of persistent effort. “The Mitribah well was by no means easy — it represented a real challenge to the company,” he said, expressing confidence that Kuwait’s oil companies would continue to deliver similar successes in line with the leadership’s directives. Al-Roumi also commented on global oil market trends following the US Federal Reserve’s recent interest rate cut, noting that while prices remain at suitable levels, forecasting remains difficult. He anticipated demand growth, particularly in Asia.

Eight OPEC+ members agreed on Sept 7 to raise output by 137,000 bpd in October, an extension of the group’s policy since April of increasing production after years of cuts to support the oil market. Despite the agreement to raise output, “prices are more than good”, Al-Roumi said. “We had expected the worst but things are fine,” he added. “The oil market is puzzling and very difficult to predict.”

Kuwait Petroleum Corporation (KPC) CEO Sheikh Nawaf Saud Al-Sabah hailed the launch as a “new breakthrough” for the oil sector under the leadership of HH the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah. He noted that Mitribah is among the most complex fields in Kuwait due to its high sulfur content and that KOC had partnered with international firms to apply, for the first time, an integrated production management system. Sheikh Nawaf also underlined that the project contributes to KPC’s long-term strategic goal of reaching and sustaining a production capacity of 4 million barrels per day by 2035. – Agencies

 MADRID:  Kuwait’s Ambassador to Portugal Hamad Al-Hazeem met with senior Portuguese business figures to review preparations for Kuwait’s hosting of the 9th EU-GCC Business Forum, scheduled for November.In a statement to KUNA on Friday, Ambassador Al-Hazeem highlighted the significance of the forum during talks with Portuguese Business Confederation (CIP) President Armindo Monteiro, attended by the confederation’s Director General, Rafael Alves Rocha, at the CIP headquarters in Lisbon.

The Ambassador noted that the Kuwaiti Embassy in Lisbon had sent a formal invitation encouraging the CIP to participate in the event, stressing the importance of the forum as a major economic platform.He underlined that the forum represents a vital opportunity to strengthen commercial cooperation between the GCC and the EU, while also emphasizing the importance of deepening bilateral economic and trade relations between Kuwait and Portugal.

He pointed out that Kuwaiti private and commercial sectors are gaining a stronger presence in the Portuguese market, reflecting Kuwait’s interest in expanding investment partnerships.On his part, Monteiro welcomed Kuwait’s initiative to host the forum, describing it as a strategic platform for opening broader horizons of economic and trade cooperation between the GCC and the EU, stressing that boosting economic relations between Portugal and Kuwait is essential for creating new opportunities for Portuguese companies and enhancing bilateral cooperation to serve the interests of both nations.

Monteiro noted that the CIP, established in 1974 to promote a market economy and private initiatives, is Portugal’s largest and most influential business organization. Representing over 150,000 companies and 1.8 million workers-equivalent to 71 percent of Portugal’s GDP-the confederation operates across multiple sectors nationwide.

The EU-GCC Business Forum serves as a strategic platform to exchange perspectives, explore trade and investment partnerships, and highlight opportunities for non-oil growth in Gulf states in collaboration with European partners. — KUNA