KUWAIT CITY, Aug 8: Kuwait Petroleum Corporation (KPC) has qualified about 70 medium and small enterprises (SMEs) to work with the oil sector since the launching of ‘Badir’ initiative for the qualification and registration of SMEs in oil tenders, reports Al- Anba daily quoting sources. Sources disclosed these 70 SMEs are registered in four activities – manufacturing, supply, business contracting and services. Sources said 11 SMEs have so far been registered in manufacturing, 20 in supply, 19 in business contracting and 20 in services.
Sources stated that KPC specified the following conditions for SMEs to work with the oil sector: submission of financial statements including sales and profits over the last three fiscal years, at least three purchase orders or three service orders as part of the required experience in the field, registration certificate from the National Fund for Small and Medium Enterprises Development, organizational structure and signature approval. Sources added the SMEs should have been operating for at least one year since the date of their establishment. Sources affirmed that KPC and its subsidiaries allocated a certain percentage of their tenders and contracts for the owners of SMEs as the first step to support these enterprises, in addition to laying down a mechanism for SMEs to participate in various projects to achieve the objectives of the sector for the year 2040.