Audit Bureau’s report cites observations against KNPC

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KUWAIT CITY, Nov 2: Kuwait Oil Company won the Global Business Outlook (GBO) award for the Best Oil and Gas Exploration and Production Company, and the award for the Best Crisis Management Response – COVID-19 Response and Awareness Initiatives. The awarding comes in recognition of KOC’s excellence in business and corporate responsibility as a reliable source of energy for the world in 2021, said a press release from the company on Monday.

The prestigious GBO magazine recognizes the efforts made by KOC recently to explore for and produce oil and gas, according to the statement. The company, a subsidiary of a subsidiary of the Kuwait Petroleum Corporation based in Al-Ahmadi Seaport, was able to utilize the biggest heavy oil project in the Middle East last year which helped Kuwait to export heavy oil for the first time. In FY 2020-2021, KOC was able to overcome numerous challenges and maintain the levels of its energy output, thus remaining a reliable source of energy. GBO also held in high esteem the company’s role in offering medical and logistic support to the Kuwaiti government during the combat against the coronavirus (Covid-19) pandemic, the statement added. (KUNA)

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