Oil Association: “Shaheen” is the largest foreign direct investment in Kuwait’s history
The President of the Kuwait Oil and Petrochemical Workers’ Union, Saud Al-Mutairi, affirmed that the union follows with pride and admiration the historic announcement issued by the Kuwait Petroleum Corporation (KPC) regarding the signing of the “Shahin” project agreement, which represents the largest foreign direct investment in Kuwait’s history and reflects the national oil sector’s capacity to attract global capital and forge enduring strategic partnerships.
In a media statement, Al-Mutairi clarified that this major national achievement did not come about by chance, but is the fruit of wise leadership vision and continuous efforts spearheaded with great competence by the Corporation’s Vice Chairman and Chief Executive Officer, Sheikh Nawaf Al-Saud Al-Sabah. He has repeatedly demonstrated his ability to lead the oil sector toward new horizons of development and sustainable growth, while fully safeguarding national sovereignty and the country’s higher interests, and consolidating Kuwait’s position as a key player in global energy markets.
He stated that the Corporation continues its path of continuous development and deliberate innovation, with the “Shahin” project embodying a pioneering model in maximizing the economic value of our strategic assets through high-level global partnerships that protect the state’s rights and provide financial liquidity to support plans for increasing production capacity and enhancing Kuwait’s competitiveness in the long term.
He added, “We at the Oil Workers’ Union highly appreciate this ambitious national direction and reaffirm our full and absolute support for all steps taken by the Corporation under the leadership of Sheikh Nawaf Al-Saud, which reflect a firm commitment to continuous development and optimal utilization of global investment opportunities, thereby ensuring the sustainability and prosperity of the sector.”
He continued, “We also extend our greetings and appreciation to all employees of the Kuwait Petroleum Corporation and its subsidiaries, who form the backbone of this success and demonstrate daily their competence and dedication in serving the nation. Our support for them is steadfast and ongoing; we will remain their voice advocating for their rights and interests in all forums, and supporting every initiative that enhances the work environment and achieves fairness and job stability.”
Al-Mutairi emphasized that the “Shahin” project represents a pivotal milestone in Kuwait’s economic development journey and sends a clear message that the Kuwaiti oil sector is moving confidently toward the future, under wise leadership and unwavering national resolve capable of transforming challenges into real opportunities for growth and prosperity.
