The Kuwait Petroleum Corporation (KPC) and the Kuwait Foundation for the Advancement of Sciences (KFAS) signed a memorandum of cooperation and partnership in the field of research, development and technology designed to enhance coordination and cooperation in areas of interest to the oil industry.
Mr. Nizar Al-Adsani, KPC Chief Executive Officer, signed on behalf of the Kuwait Petroleum Corporation and its subsidiaries while Dr. Adnan Shehab-eldin, KFAS Director General, signed on behalf of the Foundation. The ceremony was attended by senior officials of the two parties.
This initiative comes within the serious steps of KPC to enhance cooperation and strengthen relations with institutions and national entities to strengthen capacities and potential of the oil sector in Kuwait.
The agreement aims to draw on the expertise of KFAS and its close ties with world scientific institutions and research centers and to build bridges of cooperation, scientific knowledge and expertise exchange, and potential partnership with KPC and subsidiaries to serve the national oil industry of Kuwait.
Dr. Shehab-eldin said that the memorandum signed with Kuwait Petroleum Corporation and its subsidiaries will focus on finding technical solutions to the various challenges facing the oil and gas industry in the State of Kuwait and collaboration in the areas of renewable energy and enhancing energy efficiency.
The Director General added that this memorandum comes under the umbrella of the objectives and thrusts of KFAS’ new five-year strategic plan for the years (2017-2021) which was initially approved in its first draft by the Board of Directors. The Plan targets exploring successful solutions for sustainable development constraints and proposing policies to overcome them in cooperation with relevant State agencies.
He reiterated that the MOU represents an implementation of the Directives of His Highness the Amir, Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, Chairman of the Board of Directors of the Foundation, which aspire to reach 15% of electricity production from renewable sources by 2030.
Dr. Shehab-Eldin praised the role played by Kuwait Petroleum Corporation and subsidiaries in oil and gas in its commitment to enhance efforts to enhance efficiency of scientific research and the utilization of new techniques in crude exploration, drilling, and extraction as well as KPC serious efforts to strengthen the role of the oil sector in the development of Kuwait.