Kuwait National Petroleum Company (KNPC) signed a memorandum of understanding (MoU) with the Organisation of Arab Petroleum Exporting Countries (OAPEC) to cooperate in an overhaul of the oil sector and its digital transformation, state news agency KUNA reported.
KNPC CEO Walid Al-Badr emphasised the importance of research and development in the industry, and the role of modern technology in cutting costs and producing clean, high-quality oil derivatives.
OAPEC Secretary General Ali bin Sabt said that the MoU would allow the two organisations to exchange expertise as the regional oil and gas industry experiences rapid technological development.
Digital transformation and sustainability are high on the agenda of every oil and gas executive in the region, and the move follows years of progress across the Gulf region.
