521,000 Kuwaiti Dinars Allocated for the Development of Oil Sector Leaders

The Supreme Purchasing Committee for tenders of the Kuwait Petroleum Corporation (KPC) and its subsidiaries, in its meeting No. 2026/58, held on May 20, 2026, approved the award of Practice No. 259/2024/KPC PTC/2025 concerning the leadership development program for the oil sector, specifically the development of executives within Group K. The sole bid submitted was from the University of Chicago Booth School of Business, which passed the technical success rate (minimum technical acceptance threshold). Two rounds of negotiations were held, resulting in a contract value of $1.695 million, equivalent to approximately 521,220 Kuwaiti dinars, under a nine-month contract.

Additionally, the Supreme Purchasing Committee of the Corporation held a meeting last Sunday, during which the bid opening sessions for Kuwait National Petroleum Company were conducted by the bid opening committees affiliated with the Supreme Purchasing Committee at the oil companies’ headquarters. The committee reviewed the confidential results of tenders and practices exceeding a value of 75,000 dinars, discussed these reports and bid opening sheets, and subsequently referred them to the concerned companies for review and submission of necessary recommendations within 30 days of the date.