KUWAIT: Kuwait Petroleum Corporation (KPC) CEO Sheikh Nawaf Saud Al-Sabah on Thursday described risk management as a keystone to decision-making process, attributing KPC’s high standing among its peers to its adoption of comprehensive risk management mechanisms as per the 2040 strategy. Sheikh Nawaf stated this while speaking at signing of Memorandum of Understanding between KPC and Kuwait University. KPC, he added, aspires to amplify cooperation with state bodies in education and research, to create a link between education and modern work requirements.

Kuwait University as a beacon of academic work, he explained, joined together with KPC to establish a model of cooperation and development in relation to risk management. The MoU consists of training programs, symposiums, workshops, consultative services as well encouraging research papers to keep up developments and provide an opportunity to train KU graduates and diversify job market specialties. Al-Sabah took the opportunity to commend the work of the risk management department at KPC and KU faculty for their efforts and hard work in dictating the terms of this MoU.

KPC 2040 strategy sets out to meet current and future energy demands, maintain world-class standards of operational excellence, capitalize on opportunities, develop a digital strategy and utilize alternative and renewable energy sources. —KUNA