The oil sector is passing through a vital stage in its history, with its experiences waning as the service of many of its current senior officials approaching 35 years or others reaching the retirement age of sixty, in conjunction with the move to raise production capacity, all of which are complications that increase challenges for the prospective CEO of the Kuwait Petroleum Corporation.
In this regard, oil sources told Al-Rai that there are many files on the table for the new KPC CEO, noting that he will initially have to deal with 6 vital intertwined files.
The sources explained one of the most prominent files on the table of the CEO is the formation of the executive team, whether for the sectors or subsidiaries, given that the next stage requires a great development to restore the vitality of the sector and rejuvenate it.
As for the second file, the sources believe that it is represented in the formation of the boards of affiliated companies through the KPC board of directors which will be the first building block for the management of these companies’ strategies, stressing that even if the tenure of the current boards are extended, the KPC CEO must start preparing for the future.
The sources pointed out that the new CEO must have a clear vision of what things will be like, and that his success depends on the choices of his executive team, noting that the matter requires full and accurate reviews of the choices with the escalation of young leaders capable of implementing the sector’s policies and achieving its approved strategy.
The sources said, “The sector requires a resurgence to explore the best young cadres in order to build leadership ranks for the coming years, after the sector suffered from a lack of expertise, not a negligence, but rather due to the loss of many of its experiences in previous periods on more than one job level, whether the senior or middle leaders.”
The sources stated that a third file that the CEO will have to deal with is raising production capacity and its challenges and the technical projects that this requires, while the fourth file relates to providing ways and possible financing mechanisms for the oil sector in coordination with the government, in addition to achieving stability and giving greater confidence to workers in the sector.
The sources confirmed that the fifth file is no less important than its predecessors, how to deal with the restructuring of the oil sector and the consequent change in organizational structures and the exit of executive leaders without confronting with labor claims, and in a manner that provides internal stability and achieves the greatest concentration of workers to achieve the best possible results that contribute to achieving the organization’s strategy.
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