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The KPC Managing Director for E&P and Chairman/CEO of KOC since the autumn of 2007, Rushaid has been very eager to promote Project Kuwait and the ETSAs. He and KPC's CEO Sa'd al-Shuwaib have doubled their efforts in this respect since a new parliament was elected on May 16 and a new government was formed on May 29. Both played key roles in Kuwait Projects 2009, a conference held on March 29-31 at Kuwait City's Courtyard Marriott hotel - an event organised by MEED and featuring a market for about $300 bn worth of projects in various sectors with emphasis on KOC's development plans.
With Rushaid's active participation, KOC was a diamond sponsor of the 16th Middle East Oil and Gas Exhibition and Conference (MEOS-2009) held in Bahrain on March 15-18. From Rushaid down, KOC executives made presentations covering a wide range of topics, from Project Kuwait to recruitment, 2020 Strategy, exploration and technology. In his presentation to the conference, Rushaid focus on Project Kuwait, but covered several other topics. He said: "We have to focus on bridging up the gaps in people and technology, as a key success factor for the development of Kuwait's hydrocarbon resources".
Rushaid until the autumn of 2007 used to be KPC managing director for refining and chairman/CEO of the Kuwait National Petroleum Corp (KNPC). As such, he promoted the the 615,000 b/d al-Zour refining project and a $150m floating LNG terminal. The latter will receive and regasify Qatari LNG. A KNPC project, the terminal built and installed off the Mina al-Ahmadi refinery by Excelerate Energy of the US, was completed recently and tests are done. It will be operational by late July, in time for peak summer gas demand. The terminal is a specially adapted ship connected to the onshore gas network. It has the capacity to process up to 500 MCF/day of gas.
KOC has faced a barrage of questions over Kuwait's proven oil reserves since New York-based Petroleum Intelligence Weekly (PIW) in early 2006 cast doubt on the official figure of 99 bn barrels. PIW then published ...
Source: HighBeam Research, Sami Al-Rushaid.