Kuwait City: Kuwait’s plans for increasing the contribution made by renewables to the energy mix and boosting output at its refineries were among the topics explored by five industry experts in comments they gave to Oxford Business Group’s online broadcasting channel, Global Platform.
The collection of interviews with representatives of Kuwait Oil Company (KOC), Kuwait Petroleum Corporation (KPC) and Kuwait National Petroleum Company (KNPC) is now available to view in full at https://oxfordbusinessgroup.com/kuwaits-solar-energy-drive-moving-fast-global-platform-interviews-highlight-latest-developments-in-energy-sector
Khalid Abul, Team Leader, Major Project (I), KOC, told viewers that although the country had maintained its capital projects in recent years, the climate of fluctuating global oil prices had contributed to the decision to diversify the energy mix.
“It broadens the ideas, the expansions and the vision of the oil sector to invest in other, diversified options,” he said.
The drive to develop the solar segment is now accelerating, in line with Kuwait’s target of obtaining 15% of its energy needs from renewables by 2030, according to Khaled Al Mazeedi, Team leader, Research and Technology, KPC.
“In terms of solar energy, we started late, but we are moving fast,” he noted.
The Al Dibdibah Solar Park project is central to Kuwait’s plans to harness the sun’s energy; slated to be commissioned in early 2021, the plant will have the capacity to produce 1.5GW of power, making it one of the biggest projects of its kind in the world.
Meshal Al Saeidi, Team Leader, Projects, KNPC, told Global Platform that the project will offer opportunities for both foreign investors and local manufacturers in areas such as the supply of materials and technology.
“It will consist of five solar generating units, with each estimated to generate 300 MW,” he explained. “The main objective of the project is to generate 3150 GWh (GigaWatt hour) at the year 25 after commissioning. It’s a unique model and we are really confident that the project will meet the objective.”
The country’s efforts to take its oil and gas industry to the next level are also gaining pace, according to Fatemah Al Sori, Senior Controller, External Communication, KNPC.
“Kuwait’s refineries are being updated,” she said. “Building up new units will help in reaching the capacity that we are aiming for in the future.
She added that training the next generation of Kuwaitis was seen as a key part of the country remained at the forefront of the industry in the future, a view shared by Sahar Al Awadhi, Team Leader, Strategic Planning, KPC.
“Implementing and maintaining the world-class standards for operational excellence, to achieve sustainable leadership in oil and gas industry, is one of the KPC’s common 2040 strategy directions,” she told Global Platform.
Marc-André de Blois, OBG’s Director of PR and Video Content, said that the collection of interviews showed that Kuwait’s commitment to diversifying its energy mix and modernising the refining segment were well on track.
“Investors will be particularly keen to hear about the openings that the country’s still nascent renewables segment looks set to produce in areas such as the application of systems and various technologies,” he said. “I’m delighted that we’ve been able to share these and other significant industry developments with viewers.”
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About Global Platform
Global Platform is Oxford Business Group’s on-demand digital broadcasting channel. One of several research tools in OBG’s portfolio, the online platform has carved a niche as a leading business intelligence provider in its own right, with data verified independently by Deloitte putting its current circulation at 150,000. Global Platform provides cutting edge video interviews with top-level decision-makers giving key analysis and the latest updates from across all sectors of the global business community.
OBG’s digital content is available both on Global Platform and via major international business news outlets. OBG also has distribution agreements with Bloomberg and Eikon’s terminals, giving it access to the Bloomberg Professional Services’ 325,000 subscribers and to over 150,000 subscribers of Thomson Reuter’s Eikon terminal.
Click here to watch Global Platform’s latest video content:https://oxfordbusinessgroup.com/global-platform
About Oxford Business Group
Oxford Business Group (OBG) is a global research and consultancy company with a presence in over 30 countries, from the Middle East, Africa and Asia to the Americas. A distinctive and respected provider of on-the-ground intelligence on over 30 of the world’s fastest growing markets for sound investment opportunities and business decisions.
Through its range of products - Economic News and Views, OBG Business Barometer - CEO Survey, OBG Events and Conferences, Global Platform - exclusive video interviews, The Report publications - and its Consultancy division, OBG offers comprehensive and accurate analysis of macroeconomic and sectoral developments.
OBG provides business intelligence to its subscribers through multiple platforms, including its direct 6 million verified subscribers, over 1.2 million subscribers of Dow Jones Factiva, the Bloomberg Professional Services’ 325,000 subscribers, Refinitiv’s (previously Thomson Reuters) Eikon 300,000 subscribers, and more.
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