Ministry of Oil announces new Oil strategy for next five years

The Ministry of Oil announced the completion of the preparation of its new strategy for the next five years, including the formulation of the vision that the ministry seeks to achieve, which aims to maximize the added value of oil and gas and enhance human capital.

The Ministry of Oil announced the completion of the preparation of its new strategy for the next five years, including the formulation of the vision that the ministry seeks to achieve, which aims to maximize the added value of oil and gas and enhance human capital.

The ministry said in a press statement that the strategy work team prepared future axes and directions in coordination and cooperation with all departments and work programs in the ministry to define the strategic goals represented in preserving petroleum resources, optimal use of them and development according to best practices to ensure their sustainability.

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She added that a delegation including the Undersecretary of the Ministry, Sheikh Dr Nimr Fahd Al-Malik Al-Sabah, the Assistant Undersecretary for Technical Affairs, Khaled Al-Deen, and the Director of the Department of Public Relations and Information, Sheikha Tamader Khaled Al-Ahmad Al-Jaber Al-Sabah, handed the Director General of the Arab Planning Institute, Dr Badr Malallah, a copy of the new strategy to review it and make any comments on her.

The statement quoted Sheikh Nimr Al-Sabah as saying that the ministry’s work team succeeded in developing the new strategy within the specified time in order to maximize the added value of oil and gas in Kuwait and enhance sustainable human capital, which is the oil of the future.

He added that the strategy was prepared for each sector of the ministry, and the strategic objectives of each program were defined in accordance with the ministry’s vision and strategic objectives represented in preserving petroleum resources and optimal use of them and developing them in accordance with best practices to ensure their sustainability, strengthening the national economy, preserving the environment, the safety of facilities and health of workers within the approach The country’s vision of digital transformation.

He stated that the Oil Ministry has always sought complete digital transformation through high-quality controls, procedures and databases, indicating that to achieve this, the ministry worked to automate services and electronic connectivity and develop the information technology and cybersecurity infrastructure.

He pointed out that the ministry’s strategy included a set of main components represented in the vision, mission, values, strategic objectives and axes.

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