imported 2024-03-17 17:43:06
Chairman and Managing Director of Kuwait Oil Company, one of the largest companies in Kuwait oil sector responsible for Kuwait oil developments, explains the key Kuwait oil developments, challenges for Kuwait Oil Company, development of strategy of Kuwait Oil Company, development of future oil prices and reserves of oil in Kuwait.
Interview with Sara Akbar. Kuwait Energy is planning to go public this year. Kuwait Energy has approval from the shareholders to do so and Kuwait Energy is on track to do so hopefully in the second quarter of this year. We would like long term investors who understand the business and perhaps more institutional investors. Kuwait Energy would like investors from the region but currently 30% of our investors are from the US and Europe and Kuwait Energy welcomes more investors from there to. This is a unique opportunity for any kind of investor to have access to a Middle Eastern indigenous company that operates in the region with future growth plans and targets in the region.
Interview Sami Al-Rushaid. The Kuwait Oil and Gas 2030 strategy for Kuwait Oil Company calls for four million barrels a day capacity for production that is to be sustained between 2020-2030. For non-associated gas Kuwait Oil Copmany plans to produce one billion standard cubic feet per day by 2015. The additional exploration activities in Kuwait oil fields will hopefully allow Kuwait Oil Company to produce another 1.5 billion cubic feet per day to total 2.5 billion standard cubic feet per day by 2030. This is the vision for Kuwait oil and gas and for Kuwait Oil Company.
Interview with Khalid Hamdan Al-Saif. For Kuwait to make decisions like other nations who have decided to diversify their income away from oil, Kuwait will need concrete steps in order to preserve this way of life for our children and their children. The role of Kuwait oil in Kuwait economy is very strong and, I personally feel more should be done in Kuwait to diversify the income away from oil in order to secure better future for Kuwait.
BAPCO Bahrain, CEO, Abdulkarim Al Sayed
BAPCO Bahrain sells on the behalf of the Bahrain Government. The other source of income for the government is from the BAPCO Bahrain refinery. The money BAPCO Bahrain makes as a result of processing crude oil is a source of income for the government. Between what BAPCO Bahrain pays and what BAPCO Bahrain gets from the sale of products, the bigger the margin is the better it is for Bahrain.
Alain Duport, General Manager of RAK Petroleum RAK Petroleum present portfolio does not have significant oil prospects, because, as you say, the exploration that has been done is shallow exploration for RAK Petroleum. But for deep gas prospects, because there was no incentive previously to drill these prospects, the exploration is not yet completed and seems optimistic for RAK Petroleum.
General Manager – Near & Middle East of LegrandPeople are looking for more commerce, more comfort, more security, more energy saving, in India for instance we found out in a study that there are 300 million people able to buy Le Grand products. Imagine 300 million people out of 1.1 billion, this is huge for us and is a great opportunity for us.
CEO of Abu Dhabi National Energy Company (TAQA) I think the big challenges for TAQA are around people. Not that TAQA has had trouble retaining people, in fact TAQA has got over 96 percent retention rate for people TAQA has offered positions to, but keeping people aligned with who TAQA is, where TAQA is going as a group of co-workers, building the identity. TAQA believes completely in health safety, security and the environment.
