The Energy Year Strategic Roundtable Kuwait 2024

Kuwait

We are excited to announce that The Energy Year successfully hosted a strategic roundtable discussion on May 26th, focusing on Kuwait’s progress towards a sustainable energy future.

This exclusive, closed-door event brought together distinguished panellists, including Bader Ebrahim Al Attar, managing director of planning and finance at Kuwait Petroleum Corporation; Karim Al Sayed, managing director of SLB in Kuwait; Anar Aliyev, vice president of Kuwait and Qatar for bp; Anwar Almutlaq, country chairman and vice president of upstream in Kuwait for Shell; Dr. Dawoud Bahzad, acting executive director of the Petroleum Research Center at the Kuwait Institute for Scientific Research; and Kunal Singh, CFA, general manager of the international banking division at Commercial Bank of Kuwait (Al-Tijari).

Together we delved into Kuwait’s strategic measures to develop successful and effective low-carbon strategies. Our discussions highlighted the importance of collaborations and the associated opportunities and challenges and how these can help Kuwait build a sustainable, economically viable and resilient domestic energy value chain.

During the discussion, we highlighted how initiatives such as powering electric submersible pumps with solar power can help achieve Kuwait’s aim to produce 4 million bpd by 2035 in a more sustainable way. The technology needed for this transition is not new; it has been around for years. The focus now is on making these technologies scalable and ensuring economic feasibility to reach the net-zero target by 2050 in the oil and gas industry and countrywide by 2060. Additionally, discussions between IOCs and KPC emphasised the need to go beyond enhanced technical service agreements through the implementation of a more comprehensive partnership agreement framework.