IBBC MEMBERS PROFILE
Kuwait Energy is an independent oil and gas company actively engaged in the exploration, appraisal, development and production of hydrocarbons. Since establishment in 2005, we have built a high-quality, diversified portfolio of oil and gas assets in the MENA region.
Building strong relationships
We have been present in Iraq since September 2007, when we signed a Memorandum of Cooperation with the Iraqi Ministry of Oil to provide a technical study of the Siba gas field in the south of Iraq and train a number of personnel. This allowed us to provide technical support and training while giving us an opportunity to better understand the technical challenges of operating in Iraq, the result of which lead to winning a 20 year gas development and production service contract for the Siba field, signed In June 2011, granting the company operatorship and 45% revenue interest. Simultaneously, a 20 year gas development and production service contract was signed for the Mansuriya field with a 22.5 revenue interest.
While working in Iraq, we have built strong relationships with national oil and gas companies and key Iraqi decision-makers and officials. In the context of these relationships, we provide valuable technical expertise, advice and assistance to the national oil and gas companies and local governments on oil and gas projects that are important to Iraq and to local economic development.
Contributing to the community
We consider Corporate Social Responsibility an obligation rather than just philanthropy or risk management. We firmly believe that CSR contributes towards adding value to the Company, as well as making a positive difference in the lives of world citizens, with a particular focus on underprivileged indigenous communities in our countries of operations.
Recent examples of our CSR work In Iraq includes providing schools with modern equipment and supplies to help improve educational standards to children in the Siba area, sponsored sewing workshops for 30 underprivileged women also in the Siba area, and inviting female students of petroleum engineering from the University of Technology in Baghdad to join a two-week program at our offices in Kuwait where they learned about exploration and production management. We have also been active in providing basic needs and supplies to underprivileged families in the Basra governate.
For more information: www.kuwaitenergy.co