Kuwait: The Kuwait Petroleum Corporation (KPC) and the Organization of Arab Petroleum Exporting Countries (OAPEC) on Monday signed a memorandum of understanding to enhance scientific, research, and technical cooperation, exchange experiences, and achieve mutual benefit between the two parties. The objectives of the memorandum are to cooperate jointly between the two parties to exchange experiences and best practices between them, in addition to enhancing and building technical capabilities and expertise.

The memorandum also aims to encourage awareness of technological development, create collaborative research and development projects, constantly keep abreast of the latest innovations and related technical achievements, and enhance the utilization of existing technical projects at the Petroleum Corporation Kuwait. The statement quoted the CEO of Kuwait Petroleum Corporation, Sheikh Nawaf Saud Al-Nasser Al-Sabah, stressing that the corporation’s efforts continue to build its capabilities and potential in the field of research and development.

Sheikh Nawaf Al-Sabah stressed the corporation’s keenness to cooperate with its strategic partners and international oil organizations that have proven their worth in the research field, such as OAPEC, saying, “From this memorandum of understanding, the journey of progress and mutual benefit with OAPEC continues to push our oil industry forward.

For his part, OAPEC Secretary General Jamal Al- LOUGHANI praised, according to the statement, the efforts exerted by the Kuwait Petroleum Corporation in order to enhance cooperation with the organization, which is based in Kuwait, which has been its permanent headquarters since its establishment in 1968.

He stressed that the organization will spare no effort to put all the provisions of the agreement into actual implementation for the benefit of both parties. Kuwait Petroleum Corporation (KPC) was represented during the signing of the memorandum of understanding by Deputy Chairman and CEO Sheikh Nawaf Saud Al-Nasser Al-Sabah, while OAPEC was represented by Secretary General Jamal Al- LOUGHANI.