KPC to invite global oil majors to develop offshore discoveries

His Highness the Prime Minister, Sheikh Ahmed Al-Abdullah, announced on Tuesday that the Kuwait Petroleum Corporation (KPC) plans to invite international oil companies to participate in the development of newly discovered offshore oil and gas fields.

The move reflects Kuwait’s commitment to accelerating energy sector growth and maximizing the potential of its hydrocarbon resources.

Speaking at the Kuwait Oil and Gas Exhibition and Conference, Sheikh Ahmed highlighted that KPC is also engaged with global financial institutions to finalize a lease and leaseback agreement for Kuwait’s oil pipeline network, a strategic step aimed at enhancing operational efficiency and unlocking investment opportunities in the energy infrastructure, reports Al-Rai daily.

The Prime Minister’s remarks underscore Kuwait’s focus on strengthening international partnerships in the energy sector, attracting foreign investment, and leveraging global expertise to boost production from offshore assets.

These initiatives align with the country’s broader strategy to modernize its energy infrastructure and secure long-term economic growth.