KuwaitOther News

Kuwaiti, Italian oil& gas majors to explore joint opportunities

KUWAIT: In line with the excellent relations between Italy and Kuwait, the representatives of around 30 Italian companies working in the Oil & Gas sector will come to Kuwait on the 30th and 31st of January, for a visit organized by the Italian Embassy in Kuwait and the Italian export credit agency (SACE).

The companies, together with SACE, the Italian Embassy, the Italian Trade Agency (ITA) and the General Confederation of Italian Industry (Confindustria) will meet representatives of around 25 public and private Kuwaiti institutions to discuss new opportunities of cooperation in the field of oil & gas, with a view to renewable energy, hydrogen and carbon capture technologies.

The first day (30th January) will be dedicated to meetings at the Headquarters of the Kuwait Chamber of Commerce and Industry, the Kuwait Direct Investment Promotion Authority (KDIPA) and at the Kuwait Petroleum Corporation (KPC), while the following day will be dedicated to presentations of the Kuwaiti economic environment, given by renowned Consulting and Law firms and to business-to-business meetings, between the Italian and the Kuwaiti companies, at the Sheraton – Four Points hotel.

This event comes three years after the last similar visit to Kuwait of Italian Oil & Gas companies and the signing of a $ 600-million push-facility agreement, between the Italian export credit agency (SACE) and the Kuwait Petroleum Corporation (KPC), aimed at strengthening its business relations with Italian companies, through the organization of business-matching meetings.

Data from Italian Statistics Institution (ISTAT) show that, in the months January-August 2022, Italian exports to Kuwait have more than doubled, compared to the same period of 2021, reaching $1.5 billion (+150 percent), highlighting the huge opportunities the booming trade partnership has to offer to Italian and Kuwaiti companies.


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