Nizar Mohammad Al Adsani
, CEO,Kuwait Petroleum Corporation
With chief executive officer Nizar Mohammad Al Adsani at the helm of affairs since 2013, the Kuwait Petroleum Corporation (KPC) – with vital companies such as the Kuwait Oil Company (KOC) and the Kuwait National Petroleum Company (KNPC) as assets – has consolidated its position as not just a major NOC in the Gulf, but also as a key player in the regional oil and gas industry.
Kuwait consumes about 1bn cubic feet per day of natural gas, of which 60% is used for downstream operations and the rest for power generation. With Kuwaiti domestic demand for gas expected to increase significantly in the coming years, KPC has embarked on a plan to focus on increasing domestic gas production to feed the rising need for power.
“Our plan to meet such high demand is to develop newly discovered, deep and naturally fractured reserves. Currently our non-associated gas production is only 130mn cubic feet per day,” Al Adsani, an alumni of the South Dakota State University in the US, who began his career as a mechanical engineer at the Kuwait Oil Company in 1984, recently said.
As part of the plan, the Kuwait Petroleum Corporation last year signed a framework agreement with BP to explore possible joint opportunities for investment and cooperation in future oil, gas, trading and petrochemicals ventures – a deal that has helped implement advanced technology used by an IOC into Kuwait’s upstream assets.
