Kuwait, Shell renew 3 technical services pacts
State-owned Kuwait Oil Company (KOC) and Shell have signed the extension of the three Enhanced Technical Services Agreements (ETSAs) between them.
The ETSA agreements cover technical services to be performed by Shell to assist KOC in its production plans for the Northern and Western fields, and gas development.
The agreements were signed on Monday by Fahad Al-Kharqawi, Acting CEO and Deputy CEO for Project Management and Engineering at KOC, and Anwar Almutlaq, Kuwait Vice President and Country Chair at Shell.
The extension of the ETSAs, originally signed in 2016 and were valid for 10 years each, extend the services through 2029 respectively.
The strategic extension of this collaboration is aligned with KPC's long-term objectives to boost production capacity to 4 million barrels per day of crude oil and 2 billion cubic feet per day of gas by 2040, while maintaining a resilient and sustainable energy sector, KOC said in a statement.
'It will leverage KOC and Shell's joint dedication to driving innovation and excellence in Kuwait's oil and gas industry. Shell will deploy advanced technological capabilities and expertise, ensuring the implementation of innovative solutions to enhance oil production and operational efficiency in Kuwait's Northern oil fields.'
KPC CEO Shaikh Nawaf stated: 'These collaborations are essential to unlock value, optimise our resources and demonstrate our commitment to finding innovative solutions by working with leading players in the global oil and gas industry."
(Writing by Nadim Kawach; Editing by Anoop Menon)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Etihad
an hour ago
- Al Etihad
These young Emiratis are weaving crochet into contemporary fashion
16 June 2025 00:21 AYSHA SHAAYA (ABU DHABI)Crochet is making a comeback in the UAE, with young Emirati creatives weaving the traditional craft into thriving business ventures. Once considered a quiet pastime reserved for grandmothers, crochet has found new life in contemporary fashion amid the growing appeal of DIY culture and slow Alzaabi, a 21-year-old Emirati business owner, started learning crochet three years ago and got hooked into the craft.'I wanted to give my friend a meaningful gift, so I crocheted a cardigan for her. I started with a small kit I bought online, and from there I learned new things to crochet like headbands,' Alya said. 'The beauty of crochet comes from the fact that it is 100% handmade, and can never be replicated by machine, unlike knitting. This means whoever owns a crocheted item has a unique, one-of-a-kind piece.'Alya's hobby soon turned into a business, thanks to the support of her family, relatives, and friends, who became her first buyers.'Many family members were impressed by my work; they really appreciated a handmade item. From there, I launched my own business brand and started my social media account.''People were initially surprised to know that I was the owner of the business. Many would ask me if the products were made by my mother or grandmother,' Alya by the emerging opportunity, she and her partner Amal Abu Layla are now thinking of ways to reinvent their products in a way that will reflect the culture of the UAE.'When the crochet trend started a few years ago, most of the products on social media seemed to reflect the Western culture. So I started to brainstorm ideas that are suitable to our generation and most importantly, our culture.'Amal, co-owner of the business, said many have admired their creative strategy.'The feedback has been positive and people are very appreciative of what we do. We are very grateful to all our customers for their appreciation and also their curiosity. Many of them would ask questions about the process of crocheting whenever they buy from us,' Amal said. Power of Social Media The rise in demand for crocheted items was fuelled by social media, Alya said. 'What helped expand the business was the ongoing trend of crochet on social media. It was not a passing phase, but an idea that stayed around and continued to grow,' she said.'It also motivated us to take on new challenges. Thanks to its power, we managed to participate in my first pop-up and reach a new audience.' A Sustainable Craft Beyond creativity, crochet is a sustainable craft. It promotes slow fashion and the mindful production of durable, long-lasting items by hand. Maryam Alzaabi, another young crochet artist, shared how crochet can be an eco-friendly craft and contribute to environmental conservation.'It is important to choose the type of yarn used in a crochet project wisely. I try to choose fibres that could withstand multiple wears, heat, and washing. For example, recycled cotton blend would be perfect because cotton itself is a natural fibre and reduces waste,' she said. 'At the end of the day, crochet is there to teach us young generations the art of patience, that beautiful things will come into fruition when trusting the process. It's about the journey not the destination,' Maryam added.
Zawya
2 days ago
- Zawya
Kuwait oil price up $2.04 to $69.21
KUWAIT -- Kuwait's oil price edged up USD 2.04 to reach USD 69.21 per barrel yesterday Thursday compared to Wednesday's USD 67.17 pb, as reported by Kuwait Petroleum Corporation (KPC) on Friday. On global levels, Brent crude dropped 41 cents to USD 69.36 pb as West Texas Intermediate also dropped 11 cents to USD 67.97 pb. All KUNA right are reserved © 2022. Provided by SyndiGate Media Inc. (
Arabian Business
3 days ago
- Arabian Business
Egypt signs mid-term deals with Aramco and other companies for LNG
Egypt has reached mid-term agreements with several energy companies, including Saudi Aramco, to purchase liquefied natural gas (LNG), as the government seeks to meet the rising power demand and alleviate the frustrations and economic losses caused by persistent blackouts throughout the country. Agreements have been reached with global energy companies and trading houses, including Saudi Aramco, Shell, Vitol, Trafigura, BGN, SOCAR, and PetroChina. Bloomberg also added London-based Hartree Partners to that list. Both Reuters and Bloomberg reported the story, but since the Egyptian government had not confirmed the numbers, there were discrepancies. Reuters said between 50 and 60 cargoes will be used to cover this year's demand – on top of 75 cargoes purchased earlier this year – while the rest will be delivered through the end of 2026. This would result in a total of 235 cargoes for this year and next, costing Egypt a total of US$8 billion. Egypt secures major LNG supply deal Bloomberg said that Egypt agreed to purchase LNG over a two-and-a-half-year period, and that the deals will bring in as many as 290 cargoes over the period, starting next month. The world's most populous Arab country, which has been struggling with a currency crisis, has endured power issues over the past two years as natural gas supply fell short of demand. After years of being an exporter, it became a net importer of gas last year. The country's Ministry of Petroleum, the Egyptian Natural Gas Holding Company, and the companies involved did not immediately respond to the two agencies' request for comments. Reuters said the cargoes were priced at a premium of $0.70-$0.75 above the gas price at the Dutch TTF hub, with a nine-month deferred payment. Bloomberg reported only 180 days (six months) for deferred payment for the cargoes priced at a premium to the European gas benchmark of about 80-95 cents per million British thermal units.
