Kuwait the world's oil capital

The oil expert, leader of the initiative project of "Kuwait as the world's oil capital for 2022," Ahmad Al-Arbeed said that the project team has reached an advanced stage in the order of its thoughts and has made a considerable progress in the execution. On the sidelines of Kuwait International Petroleum Conference and Exhibition (KIPCE), which is co-organised by the Society of Petroleum Engineers (SPE) and Kuwait University, Al-Arbeed said that a special document will soon be made to be displayed to the decision-makers in order to take the appropriate decision. The document will contain most of the ideas, which the conditions of launching the project depend on, Al-Arbeed noted. The document will also include developmental aspects of the local and foreign oil industries as well as the development of new oil industries related to maximising the country's interests by exploring new resources away from crude oil, he added. He said that the project team is setting the outlines to assess Kuwait as an oil country over the past 25 years, adding that the document includes a periodic review of Kuwait's needs of human and societal development as a necessity to build a promising development base that is consistent with the new global reality. The project leader called on Kuwait's legislation to be in line with the international ones, especially that Kuwait deals with major countries and companies in the oil sector. On the development of global oil and gas conferences in the recent period, Al-Arbeed hoped that Kuwait would host such international conferences; especially that it has all the qualifications to.