6 - Kuwait Oil Company

Internal Event
5th Town Hall
Meeting & Exhibition
Between
KOC & Contractors
C&MD Sami Al-Rushaid inaugurates the exhibition.
The 5th Town Hall Meeting
and Exhibition between
KOC & Contractors was
held recently at Hall
Number 8 of the Mishref
International Fairgrounds.
The Town Hall Meeting
between KOC and
contractors is an important
initiative that KOC
started in 2009 with the
objective of strengthening
the business partnership
with its contractors and
subcontractors towards
achieving excellence
in performance in line
with KOC’s strategic
objectives. The Town Hall
meeting also serves as
an excellent opportunity
for KOC to exchange
views with the community
and provide them with
information about KOC
activities and operations.
This year’s Town Hall
Meeting and Exhibition
set a large and new
precedent for future Town
Hall Meetings. By being
held in one of Mishref
Fairgrounds’ largest halls,
the Town Hall Meeting
was able to go above
and beyond all previous
Town Hall Meetings. More
than 100 exhibitors from
a variety of fields set up
booths around the main
KOC platform and stage.
Local and international
visitors alike were able
to learn more about
KOC operations while
also learning about the
work that is conducted
by KOC’s many partners
and contractors.
Before the official
inauguration of the
exhibition occurred, senior
staff and members from
the press gathered in one
of the hall’s auditoriums
while senior staff delivered
their opening remarks
to the audience.
In his opening speech,
C&MD Sami Al-Rushaid
maintained that because
the oil industry plays
such an important role
in Kuwait’s livelihood
and that it was in fact the
backbone of the nation’s
economy, it is important
for KOC to “exchange
views, information
and experiences in
an atmosphere of full
transparency, either with
contractors and suppliers,
or with the Kuwaiti public.”
The KOC Chairman
added that the
Company was on the
precipice of facing new
challenges, including the
“unprecedented expansion
of oil activities within the
framework of KOC’s
strategic plans to increase
production capacity to
4 million barrels per
day by 2020 and to
maintain these rates until
2030, along with the
production of gas, so that
the Company may obtain
the desired financial
returns and contribute to
promoting the economic
development of Kuwait.”
C&MD Sami Al-Rushaid
went on to say that in
order for this planned
expansion of production
to occur, KOC would
be required to sign
new contracts so that
Company goals could
go on track to becoming
a reality. In addition, he
6
April - June 2013