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About 5,159 Kuwaitis appointed in KPC on project contract basis; 3,878 appointed in KOC - ARAB TIMES

Messenger KUWAIT CITY, May 3: The Minister of Oil and Minister of Higher Education Dr. Muhammad Al-Faris revealed that the number of Kuwaiti employees appointed according to the project contract system in the Kuwait Petroleum Corporation (KPC) and its subsidiaries reached about 5,159, reports Al-Anba daily. He stressed that most of them, which is about 3,878 employees, are appointed in Kuwait Oil Company (KOC), followed by the Kuwait National Petroleum Company (KNPC) with 912 employees, Kuwait Gulf Oil Company (KGOC) with 161 employees, and the Kuwait Oil Tanker Company (KOTC) with 109 employees. In response to a parliamentary question submitted by MP Saleh Al-Mutairi, Dr. Al-Faris explained that KPC is seeking to raise the royalty rate of the company for project contracts in the oil sector. It was decided to raise the Kuwaitization rate to 30 percent. Executive regulations were issued regarding national employment in project contracts of the oil sector that provide them with bene

FEATURE: Easing OPEC+ output cuts may unshackle Saudi-Kuwaiti Neutral Zone oil production

Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The zone is capable of pumping near to its previous maximum levels of about 500,000 b/d, but has largely been curtailed by the OPEC+ agreement. That could change, though some lingering sovereignty and fiscal still needs to be resolved, sources told S&P Global Platts. Saudi energy minister Prince Abdulaziz bin Salman told reporters April 1 that the kingdom s share of Neutral Zone production was currently 135,000 b/d. Since the two countries split output from the area equally, that implies total production from the Neutral Zone is about 270,000 b/d.

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