Kuwait Times, Monday, Mar 15, 2021 | Shaaban 1, 1442
OAPEC, KNPC ink cooperation deal
Kuwait:
The Organization of Arab Petroleum Exporting Countries (OAPEC) and Kuwait
National Petroleum Company (KNPC) signed yesterday a memorandum of understanding
(MoU) for cooperation in research and overhauling the oil sector and digital
services. Walid Al-Badr, the KNPC Chief Executive Officer, who inked the memo
along with OAPEC Secretary General Ali bin Sabt, underlined in remarks on
sidelines of the signing ceremony necessity of research and development in the
petroleum industry.
This industry is heavily counting on modern technology to cut costs and produce
clean and high-quality oil derivatives, Badr noted. Meanwhile, bin Sabt affirmed
that the MoU was inked for exchanging expertise, amid rapid technological
development in the energy sector at the Arab and international levels. The MoU
also aims to boost mutual cooperation in research, upgrading, data and
technology.