Kuwait City: Kuwait National Petroleum Company (KNPC) announced Tuesday the start of the merger process with Kuwait Integrated Petroleum Industries Company (KIPIC) as part of a restructuring plan by Kuwait Petroleum Corporation (KPC). KNPC Chief Executive Officer and acting CEO Engineer Wadha Al-Khatib stated in a release, a copy of which was obtained by Kuwait news agency (KUNA), that the merger is founded on well-studied legal and professional principles aimed at bolstering Kuwait's oil sector companies under KPC.

According to Qatar News Agency, Al-Khatib highlighted that the initiative seeks to consolidate efforts based on each company's specialization, by enhancing their capabilities and enabling greater achievements. She expressed confidence that the merger would ultimately create a successful model for transitioning into a larger economic entity that aligns with the strategic ambitions of both sectors and achieves Kuwait's Sustainable Development Goals (SDGs).

Al-Khatib also mentioned that the rapidly evolving global oil and gas industries impose significant responsibility on the country's energy sector to adapt and enhance in response to such changing dynamics.