Kuwait, Shell renew cooperation | Kuwait Times Newspaper

KUWAIT: HH the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah received at Bayan Palace on Monday Minister of Oil Tareq Al-Roumi, who was accompanied by visiting CEO of Shell Wael Sawan and Kuwait Vice President and Country Chair at Shell Anwar Al-Mutlaq. Present at the meeting was Deputy Chairman and CEO of Kuwait Petroleum Corporation (KPC) Sheikh Nawaf Saud Nasser Al-Sabah.

Kuwait Oil Company (KOC) and Shell later announced that they have signed the extension of the three enhanced technical services agreements (ETSAs) between them. The ETSA agreements cover technical services to be performed by Shell to assist KOC in its production plans for the Northern and Western fields and gas development. They were signed by Acting CEO and Deputy CEO for Project Management and Engineering at KOC Fahad Al-Kharqawi and Al-Mutlaq. The signing ceremony was witnessed by Sheikh Nawaf and Sawan.

KOC and Shell officials sign the extension of three enhanced technical services agreements.

This milestone underscores the ongoing commitment of both organizations to advancing the development of Kuwait’s oil fields through innovative and collaborative efforts. The extension of the ETSAs, originally signed in 2016 and valid for 10 years each, extend the services through 2029 respectively.

The strategic extension of this collaboration is aligned with KPC’s long-term objectives to boost production capacity to 4 million barrels per day of crude oil and 2 billion cubic feet per day of gas by 2040, while maintaining a resilient and sustainable energy sector. It will leverage KOC and Shell’s joint dedication to driving innovation and excellence in Kuwait’s oil and gas industry. Shell will deploy advanced technological capabilities and expertise, ensuring the implementation of innovative solutions to enhance oil production and operational efficiency in Kuwait’s Northern oil fields.

Sheikh Nawaf stated: “The extension of the ETSAs marks the continuation of the cooperation between KPC’s subsidiaries and Shell. These collaborations are essential to unlock value, optimize our resources and demonstrate our commitment to finding innovative solutions by working with leading players in the global oil and gas industry. Shell’s performance during the current term of the ETSAs has been fundamental to growing oil and gas production, optimizing costs and building local capabilities, and we look forward to continued collaboration.”