Interview by Khaled Al-Mutairi KUWAIT, Jan 27 (KUNA) -- The nationalization of state-run Kuwait Petroleum Corporation's (KPC) workforce has reached 91 percent, its chief executive Sheikh Nawaf Al-Sabah told KUNA in an interview on Monday, citing firm commitment towards the development of national skills.
Against the backdrop of the 45th anniversary of the company's inception, he said that KPC has relentlessly contributed towards national development plans, having amassed a plethora of accomplishments that have been instrumental in keeping the national economy on an upward trajectory.
Chief among those accomplishments is the company's ability to forge a "national heritage" based on diligent and serious work, in addition to KPC's belief in never resting on its laurels and persistently "striving for more," he added, saying that such principles have launched KPC towards multiple phases of development.
Some five years before it is set to mark its "golden jubilee," Sheikh Nawaf underlined that the state-run oil firm is "half-way through" its development road trip in terms of meeting its objectives, while it is fully cognizant of the "volatility" gripping the global oil market, which calls for more "innovation and flexibility." On the distinction of Kuwaiti crude, he said that it is the lowest in terms of "output cost and carbon emissions," while KPC is aware of Kuwait's growing "significance" towards the global oil market, citing a five-year plan aiming to ratchet up production by 2030 through innovative technologies and digital tools.
Discussing KPC's future endeavors, he said the company plans to invest in carbon capture and storage technologies to further boost operations, with the goal of storing approximately 26 million tons of carbon dioxide emissions by the year 2050.
Other plans in the works include the use of Artificial Intelligence (AI) technologies, a method he described as an "integral" component of KPC's strategies moving forward, in addition to the company's commitment to providing its personnel with the platform needed to continuously hone their skills, he added.
The KPC chief went on to heap praise on the company's employees for their dedication and commitment, while simultaneously thanking Kuwait's political leadership for their support that has been crucial to the company's success. (end) km.nam