Kuwait to Open Offshore Oil and Gas Projects to Global Energy Firms Under Al-Seef Plan
KUWAIT — Kuwait is preparing to invite international oil companies to participate in the development of newly discovered offshore oil and gas resources, as part of a strategic push to accelerate production and transfer advanced technology to the national energy sector.
Prime Minister Sheikh Ahmad Al-Abdullah Al-Ahmad Al-Sabah said Kuwait Petroleum Corporation (KPC) plans to engage global energy firms to support Kuwait Oil Company in developing offshore discoveries under the Al-Seef Project. The initiative targets the Nokhatha, Julaia, and Jazza offshore fields and is designed to fast-track development while incorporating international expertise and cutting-edge technology.
Speaking at the Kuwait Oil and Gas Show (KOGS) at the Sheikh Jaber Al-Ahmad Cultural Centre, the prime minister said KPC is also in discussions with global financial institutions to establish a lease and lease-back structure for Kuwait’s domestic crude oil pipeline network. He described the strong turnout at the conference as evidence of Kuwait’s growing status as a trusted global energy partner.
Sheikh Ahmad highlighted Kuwait’s long-term development strategy, New Kuwait 2035, describing it as a roadmap toward a more diversified and sustainable economy. He stressed that future growth will prioritize maximizing the long-term value of the country’s natural resources while transforming Kuwait into a competitive global energy hub.
As part of this shift, he pointed to the Shaheen crude project, expected to become the largest foreign investment in the history of Kuwait’s oil industry once completed in the coming months.
The event also featured a panel session attended by Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman Al-Saud, who outlined the Kingdom’s efforts to maintain stability in global oil markets. The fifth edition of KOGS is the largest to date, according to Sheikh Nawaf Al-Sabah, CEO of Kuwait Petroleum Corporation.
Sheikh Nawaf said KPC is moving forward with plans to raise domestic refining capacity to 1.4 million barrels per day, while overseas refining capacity is set to reach 600,000 barrels per day.
Separately, Kuwaiti Oil Minister Tareq Al-Roumi told Reuters that tenders for the jointly developed Durra oil and gas field with Saudi Arabia are expected to be launched this year. The field, also claimed by Iran, is described as a “very large” project that is no longer facing development obstacles.
During the conference, Italy’s energy major Eni and Q8 Italy approved a strategic joint investment to build a new biorefinery in Sicily, while Q8 signed an agreement with OQ Group to develop a petrochemical complex in Duqm. Meanwhile, SLB secured a $1.5 billion production management contract from Kuwait Oil Company, and Shell agreed to sell a minority stake in Brazil’s Orca project to Kuwait Foreign Petroleum Exploration Company.
The developments underscore Kuwait’s drive to expand upstream and downstream capabilities while strengthening international energy partnerships.
