Kuwait Oil Company and Shell announced Monday that they have signed the extension of the three Enhanced Technical Services Agreements between them.
The ETSA agreements cover technical services to be performed by Shell to assist KOC in its production plans for the Northern and Western fields, and gas development. They were signed Monday by Fahad Al-Kharqawi, Acting CEO and Deputy CEO for project management and Engineering at KOC, and Anwar Almutlaq, Kuwait vice president and country chair at Shell. The signing ceremony was witnessed by Shaikh Nawaf Saud Nasir Al-Sabah, deputy chairman and chief executive officer at Kuwait Petroleum Corporation (KPC), and Wael Sawan, chief executive officer of Shell. This milestone underscores the ongoing commitment of both organisations to advancing the development of Kuwait’s oil fields through innovative and collaborative efforts.
The extension of the ETSAs, originally signed in 2016 and valid for 10 years each, extend the services through 2029 respectively.
The strategic extension of this collaboration is aligned with KPC’s long-term objectives to boost production capacity to 4 million barrels per day of crude oil and 2 billion cubic feet per day of gas by 2040, while maintaining a resilient and sustainable energy sector. It will leverage KOC and Shell’s joint dedication to driving innovation and excellence in Kuwait’s oil and gas industry. Shell will deploy advanced technological capabilities and expertise, ensuring the implementation of innovative solutions to enhance oil production and operational efficiency in Kuwait’s Northern oil fields.
KPC CEO Shaikh Nawaf stated: “The extension of the ETSAs marks the continuation of the cooperation between KPC’s subsidiaries and Shell. These collaborations are essential to unlock value, optimise our resources and demonstrate our commitment to finding innovative solutions by working with leading players in the global oil and gas industry. Shell’s performance during the current term of the ETSAs has been fundamental to growing oil and gas production, optimising costs and building local capabilities, and we look forward to continued collaboration.”
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