KPC Review

KPC implementing risk strategy

KPC implementing risk strategy

KPC seen keen to achieve targets

Kuwait National Petroleum Company (KNPC) has signed a contract with Agility Logistics worth KD 6.5 million to provide management services


Chief Executive of Kuwait Petroleum Corporation (KPC) Hashim Sayed Hashim has affirmed that the corporation is keen continuing to implement its 2040 risk management strategy. This statement came during the opening of the fifth Kuwait comprehensive risk management conference.

The conference discussed a number of initiatives of the organisation in fields of governance, human resource operations, and technology. Hashim stressed that the corporation continued to organise this conference since 2012 with the aim to bring together thinkers and practitioners in risks management field to discuss most prominent issues.

He affirmed that the risk management constantly develops where the corporation keeps abreast of the ongoing developments of the techniques and tools used in this field.

Meanwhile, Kuwait National Petroleum Company (KNPC) has signed a contract with Agility Logistics worth KD 6.5 million to provide management services for five years. KNPC spokesperson said in a statement to KUNA that KNPC executive chief Fahad Al-Daihani signed the contract on the behalf of his company, while administrative director Ahmad Al-Yaqoub signed for Agility Logistics.

Al-Daihani praised Agility experience in providing logistics services such as transportations, managing materials and spare parts. Manager for Commercial department at KNPC Nasser Al-Thaqeb stressed the keenness of the company to develop it services including the Radio Frequency Identification (RFID) service, which will improve methods to follow up on materials and spare parts accurately.

Furthermore, Kuwait Oil Company (KOC) is currently working on developing radical solutions to the issue of theft at its operations area by implementing security projects that include the installation of security fences and checkpoints with surveillance cameras covering the vast locations of its oil operations, reports Annahar daily. The source stressed that most of the projects are in the final stages of delivery, and pointed the company is constantly upgrading the procedures of inspection and security both ‘announced and impromptu’ in all its facilities and apply methods to ensure security.

"The company is also working on fencing and installing civilian surveillance cameras as part of its major projects, while monitoring contractors continuously to improve health, safety and environmental performance, and also measure the time lost due to workers’ injuries based on international standards", the source added. He pointed to an increase in company asset theft in the northern Kuwait operations area, including theft of diesel, pipelines, cables and power generators as the area is open and shared with campers.




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