Ministry of Oil and Gulf Oil Company Sign Protocol for Electronic Linkage and Data Exchange

The Ministry of Oil signed a joint cooperation protocol with the Kuwait Gulf Oil Company (KGOC) regarding electronic integration and the exchange of data and information between the two parties, a move aimed at developing the institutional work system, enhancing digital integration, and improving the efficiency of financial and administrative procedures.

The protocol was signed by the Deputy Minister of Oil, Sheikh Dr. Namar Fahad Al-Malik Al-Sabah, and the Chief Executive Officer of KGOC, Bader Al-Munif.

In a statement issued by the Ministry of Oil, Sheikh Dr. Namar Al-Sabah said that this signing aligns with the Ministry’s direction to accelerate digital transformation and expand technical cooperation with oil companies, enabling the electronic exchange of data and information through approved and secure channels. This contributes to shortening documentation cycles, simplifying procedures, accelerating transaction processing, and enhancing the accuracy of exchanged information. He added that the protocol also represents an important step in developing the government work system and strengthening integration between the Ministry of Oil and oil companies by leveraging modern digital solutions to simplify procedures and improve institutional performance efficiency.

He emphasized that the Ministry of Oil places great importance on developing its financial and administrative systems and updating information exchange mechanisms with relevant entities, thereby enhancing the speed and accuracy of transactions and supporting decision-making based on reliable and up-to-date data. He noted that digital transformation is one of the fundamental pillars for improving service quality and achieving optimal resource utilization.

He pointed out that cooperation with KGOC reflects a commitment to building a more interconnected and effective work system and expanding the use of modern technologies in managing joint operations, highlighting the importance of sustained coordination among specialized teams to ensure the actual implementation of the protocol’s outcomes and achieve its intended objectives.

He clarified that developing electronic integration between government entities and oil companies goes beyond accelerating information exchange; it also enhances data reliability, improves monitoring and oversight efficiency, reduces procedural duplication, supports governance principles, and establishes a more efficient and flexible institutional work environment.

He mentioned that the areas of electronic integration between the two parties include the exchange of basic data for employees of KGOC and relevant entities, financial data related to expenditures, settlements, dues, and allowances, as well as periodic reports and data necessary for processing financial transactions, along with any additional data agreed upon in accordance with approved regulations and authorities.

He indicated that the protocol aims to establish an organized institutional mechanism for information exchange, ensuring smooth procedures, providing accurate and up-to-date data, reducing reliance on paper-based transactions, and improving coordination efficiency between the relevant departments of both parties.

He affirmed that this step is part of the Ministry of Oil’s ongoing efforts to modernize the work environment, develop support services, and strengthen institutional partnerships with oil companies, thereby supporting the digital transformation journey and elevating institutional performance levels.