KUWAIT CITY, Nov 10: Kuwait Petroleum Corporation (KPC) CEO Sheikh Nawaf Saud Al-Nasser Al-Sabah on Monday stressed that innovation is essential for enhancing competitiveness in the global energy market and achieving sustainable economic resilience for the State of Kuwait.

Sheikh Nawaf made the remarks following the conclusion of KPC’s “Excellence in Innovation” conference, highlighting that integrating innovation into operational processes is critical for meeting the corporation’s long-term strategic goals and strengthening collaboration among oil sector companies.

He noted that KPC and its subsidiaries are among the largest contributors to state revenues, making innovation a necessity rather than an option. Organizing the conference, he added, reflects KPC’s commitment to embedding innovation as a core corporate value and a cornerstone for supporting the national economy.

KPC’s Managing Director for Planning and Finance, Bader Al-Attar, emphasized the need to transform innovation from an idea into a structured corporate practice across all sector companies. He highlighted the importance of leadership and collaboration in creating a unified framework for innovation and empowering employees to develop and implement their ideas effectively.

The statement noted that the Boston Consulting Group (BCG) presented its global insights on building a sustainable innovation culture within large organizations, addressing factors such as innovation maturity, governance models, organizational mindsets, and the use of digital technologies and artificial intelligence in idea generation and execution.

Held last Thursday, the conference featured a panel discussion with representatives from oil sector companies who confirmed that the unified innovation framework has begun producing tangible results, with several ideas already integrated into operational processes.

The event also included an innovation exhibition, allowing employees from KPC subsidiaries to showcase their projects, exchange experiences, and demonstrate methodologies that have transformed concepts into practical, value-added solutions.