AR
OUR STRATEGY

Proactive services
on a unified global level

Strategy 2040 aims to enhance KPC and its subsidiaries reputation.

Kuwait Petroleum Corporation’s Strategy 2040 will aim to enhance KPC and its subsidiaries reputation by providing proactive services to our stakeholders on a unified global level. This is accomplished by ensuring the corporate’s set directions are achieved, to meet the state of Kuwait’s current and future energy demands. The activities of KPC are focused on petroleum exploration, production, petrochemicals, refining, marketing, and transportation. We at KPC strive to manage and operate these integrated activities worldwide in the most efficient and professional manner, in addition to growing shareholder value whilst ensuring the optimum exploitation of Kuwait’s hydrocarbon resources.

Corporate Directions

The sector-level strategic plans were created based on the themes of the KPC 2040 Strategic Directions to progress towards its vision and fulfill its goals.



Sustainable Leadership Position

Implement and maintain world-class standards of operational excellence, to achieve a sustainable leadership position in the oil & gas industry.



Optimize the Portfolio

Continuously optimize the portfolio to capitalize on opportunities and rationalize non-core and unprofitable assets.



Current and Future Energy

Meet the State of Kuwait’s current and future energy demand by providing an economically and environmentally friendly mix of fuels as well as strategic backup.



Added Value

Utilize alternative, renewable, and other energy sources when it adds value to KPC businesses.




Achieving Operational Excellence

Develop a digital strategy and implement a digital transformation framework to achieve operational excellence.






Main Functions

Domestic Upstream

4.0MMBPD

Crude Oil Production in 2035

2.0BSCFD

Non-Associated Gas Production by 2040

  1. Achieve sustainable crude oil production capacity in the State of Kuwait (including Divided Zone) up to 4.0 MMBPD in 2035 and maintain it up to 2040.
  2. Achieve sustainable Non-Associated Gas production in the State of Kuwait (including Divided Zone) up to 2.0 BSCFD by 2040.





International Upstream
  1. Improve and optimize current portfolio to ensure operational excellence and maximize financial returns to KPC.
  2. Pursue selective attractive acquisitions opportunities partnering with major oil companies, that strategically complement current portfolio and increase overall portfolio returns to KPC.
  3. Support capability development of Domestic Upstream through training/secondment into International Upstream JVs Operating Companies.





Domestic Downstream

1.6MMBPD

Domestic Refining Capacity by 2025

  1. Achieve up to 1.6 MMBPD domestic refining capacity by 2025 with maximum conversion capabilities while ensuring maximum offtake of domestic heavy oil and meeting local energy demand.
  2. Maximize integration of refining and petrochemical operations domestically.
  3. Explore partnership in domestic refining to enhance operational excellence, efficiency, and reliability.
  4. Participate with the private sector in meeting domestic fuel retail demand while fostering competition and enhancing private sector participation.





International Downstream

425MBPD

Disposal of Kuwaiti Crudes by 2025

  1. Pursue, through partnerships/alliances with international partners, economically viable investment opportunities taking into consideration capacity of disposal of 425 MBPD of Kuwaiti crudes in high-growth promising markets by 2025, and additional volume up to 300 MBPD (when materialized)
  2. Sustain and optimize current European retail portfolio and expand in promising high-growth markets.





Petrochemicals

14.5MTPA

To Achieve Leading Position Globally by 2040

  1. Expand base petrochemical inside and outside the State of Kuwait to achieve leading position globally, through achieving 14.5 Mtpa by 2040.
  2. Expand into downstream derivatives linked to base petrochemicals production, inside and outside the State of Kuwait, through achieving 1.2 Mtpa by 2040, while achieving 15% of total equity capacity additions domestically by 2040.





International Marketing

  1. Maximize the value of Kuwaiti hydrocarbons through disposal in secure long-term and diverse outlets.
  2. Develop asset-backed trading business to maximize Kuwaiti hydrocarbons value, while actively managing market/price risks.





Shipping

  1. Ensure meeting long term strategic cover and KPC marketing requirements of crude oil, refined products, and LPG carriers in-line with KPC’s production plans, and via the most economical means.





Enabling Functions