A series of new senior managers is expected to be named at key state-owned oil and gas companies in Kuwait over the coming weeksThe wave of major personnel changes is expected after a period of political gridlock, during which it has been difficult to push through authorisations for new senior appointments at the state-owned oil companies, leaving many key positions vacant.It is anticipated that the companies that will have new senior appointments announced over the coming months will include Kuwait Integrated Petroleum Industries Company (Kipic), Kuwait Oil Company (KOC) and Kuwait National Petroleum Company (KNPC).At Kipic, the new appointments are expected to include a deputy CEO for planning and permits and a deputy CEO for Al-Zour operations.Both appointments will likely be crucial in pushing forward the planned $10bn Al-Zour petrochemicals complex project.The appointments at the downstream operator KNPC are expected to include a deputy CEO for major projects.At the upstream operator KOC, the appointments are likely to include a deputy CEO for major projects, a deputy CEO for drilling and a deputy CEO for North Kuwait.The upcoming appointments are linked to a slight improvement in political stability in Kuwait.Last month, Kuwait formed its fifth cabinet in less than a year.One industry source said: “The new cabinet represents a slight improvement in the situation.“There is now more optimism about the potential for important political economic decisions to be made and implemented.“Filling the senior vacancies at the state-owned oil companies is the first step to approving major projects in the oil and gas sector that have, in some cases, been delayed for years.”Kuwait has had three elections in three years, creating policy uncertainty that has significantly impacted businesses and delayed major decisions on projects.The country has seen a contraction in the value of its oil and gas projects market as the political deadlock has blocked approvals for major infrastructure projects in the sector.Between the start of 2020 and the beginning of May this year, Kuwait’s total value of all active oil, gas and chemicals projects declined by 65 per cent from $67.1bn to just $23.5bn. (ICE KUWAIT)

Fonte notizia: MEED