KNPC begins integration of KIPIC to boost sector efficiency and growth

The Kuwait National Petroleum Company (KNPC) announced on Tuesday that steps have been taken to fully integrate the Kuwait Integrated Petroleum Industries Company (KIPIC) to enhance cooperation and integration among the Kuwaiti oil sector companies, aligning their efforts based on their specializations.

CEO Wadha Al-Khatib said the merger is being conducted on legal and professional grounds as part of the Kuwait Petroleum Corporation’s broader restructuring project with the goal to provide the companies with expanded capabilities and prospects for greater success, reports Al-Jarida daily.

Al-Khatib expressed confidence that the merger will serve as a successful model for transitioning into a larger economic entity, aligned with the sector’s goals for sustainable development.

She added, the rapidly changing global oil and gas industry requires the Kuwaiti oil sector to be more adaptable and flexible, while at the same time affirming the sector’s commitment to fulfilling its obligations to customers both domestically and internationally.

The restructuring process will continue with transparency and will involve employees in its development, as they remain a critical foundation for the company’s success.