2040 Strategy

2040 Upstream Mission:

We optimize the value of Kuwait’s hydrocarbon resources through exploration, development and production to ensure sustainability

2040 Upstream Vision:

To be an upstream leader recognized globally for excellence

2040 Upstream Values:

Innovation: Developing and embracing new ideas, methods and approaches to solving challenges that create value

Excellence: Encouraging high performance, continuous improvement and a customer focus

Caring for People: Creating a culture where people develop and grow, and are positively motivated to contribute to the success of others

Pride: Creating employee satisfaction on an individual level and promoting a sense of loyalty and belonging to KPC

One Team: Caring for the interests of KPC and ensuring alignment to achieve corporate and State goals

Partnership: Building and sustaining relationships that support growth and enhance operational excellence

Integrity: Acting in a trustworthy manner with the highest standards of ethics, respect and honesty

Commitment to HSSE: Respecting the environment and ensuring safety, security and the promotion of a healthy workplace wherever KPC operates

2040 domestic Upstream Strategic Objectives

Strive for World-class Operational Excellence: Achieve world-class operational excellence to maximize upstream profitability.

Optimize Portfolio Management:  Optimize resource allocation to maximize strategic fit and return on investment for each type of hydrocarbon.

Achieve Sustainable Crude Oil Production Capacity: Ensure meeting the current and future demand by achieving a sustainable crude oil production capacity in the State of Kuwait, including production from the Partitioned Zone.

Achieve Sustainable Non-associated Gas Production:  Ensure meeting the current and future demand by achieving a sustainable production of non-associated natural gas in the State of Kuwait, including production from the Partitioned Zone.

Replace Reserves to Sustain Production:  Replace produced hydrocarbons by improving recovery factor for known resources and by discovering new reserves.

Facilitate Technology & Capability Transfer: Ensure mechanisms and platforms are in place, and pursue to capture and transfer of technologies to and from K-companies and promote opportunities that support the development of Kuwaiti capabilities.

Actively Manage Stakeholders to Satisfy Kuwait Energy Demand Efficiently: Efficiently provide energy security to the State of Kuwait by achieving and maintaining solid alignment with stakeholders including government entities, partitioned zone partners, service providers and suppliers.