Ministry of Oil and 'Gulf Oil' Sign Protocol for Electronic Linking and Data Exchange - Sarmad

The Ministry of Oil signed a joint cooperation protocol today, Tuesday, 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, Sheikh Dr. Namar Al-Sabah said that this signing aligns with the Ministry’s direction toward accelerating digital transformation and expanding 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, expediting transaction processing, and enhancing the accuracy of exchanged information.

He added that the protocol also represents an important step in the path of 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 attaches great importance to 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 elevating service quality and achieving optimal resource utilization.

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

He clarified that developing electronic integration between government entities and oil companies is not limited to accelerating information exchange but extends to enhancing data reliability, improving monitoring and oversight efficiency, and reducing procedural duplication, thereby supporting governance principles and establishing 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 the Kuwait Gulf Oil Company 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 noted 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 update the work environment, develop support services, and strengthen institutional partnerships with oil companies, thereby supporting the digital transformation journey and elevating institutional performance standards.