The GCC petroleum industry is being urged to focus on innovation and efficiency to retain the value of the region’s natural resources
A senior manager at the Kuwait Oil Company (KOC), recently noted that the market has been challenging for the industry, with global oversupply and a constrained economic outlook in several key markets impacting on prices.
According to Badria Ali Abdul Raheem, deputy CEO at KOC, the GCC’s strategic response to future changes in the market will be an important point of discussion when industry leaders gather for the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in November.
“The petroleum industry in the GCC states carries a significant responsibility for national development, and we need to be as efficient as possible, as innovative as possible, and maximise the utility we derive from our natural resources,” said Abdul Raheem, who is responsible for the conventional and heavy oil fields of the North Kuwait asset.
“ADIPEC is an important forum for us to achieve this, both as a discussion of industry issues and best practice, and through displays of new methods and technology.”