KUWAIT - Green Economy
Deputy Prime Minister, Minister of Oil & President, Supreme Council for the Environment
Bader Al-Mulla was a lawyer by profession and has been an elected member of the Kuwaiti Parliament since 2019 for three consecutive legislative sessions, including the current semester. He was appointed by an Amiri decree as Deputy Prime Minister of the State of Kuwait and Minister of Oil on October 16, 2022. In previous legislative terms, he served as Chairman of the Parliamentary Committee on State Budgets and Final Accounts Affairs and as a member of the Parliamentary Committee on Financial and Economic Affairs, and the Parliamentary Committee on Human Resources Affairs as well. He was also a practicing lawyer before the Constitutional Court, the Court of Cassation, and the Kuwait Commercial Arbitration Center. Al-Mulla’s previous roles include assistant professor of civil law at the Saad Al-Abdullah Academy for Security Sciences, member of the faculty of law at Kuwait University, and head of investigations in the Technical Office of the General Department of Investigation. Al-Mulla holds a PhD in civil law, a master of laws in private law, a bachelor of laws, and a bachelor’s degree in police sciences.
Given that the State of Kuwait is already looking ahead to a more diversified and sustainable economy, the Ministry of Oil is working accordingly to leverage on current oil prices and focus on expansion and future innovations.
What is the ministry’s strategy to leverage the success of the country in light of the present price of oil and global demand for energy delivery?
In light of the present price of oil, which is expected to continue in the short to near-term horizon (at a range of USD80), our strategy mainly focuses on increasing sustainable crude production capacity. Our updated strategic directions are to reach 3.5 MMBPD (including the Divided Zone) by 2025 in order to be among the leaders in the oil and gas industry.
Considering the Kuwait’s heavy reliance on the oil and gas industry, what solutions and strategies could be implemented to promote increasing diversification of the country’s economy?
As petrochemical products are in great demand globally, which are based on oil and gas products, we aim to diversify the country’s economy through the planned expansion in the petrochemical industry inside and outside the State of Kuwait.
Digital solutions and technological advancement are at the core of increasing the country’s industry ability for sustainable and developing growth. How is the Ministry of Oil planning to enhance Kuwait’s resources potential through regulating and implementing solutions in the oil sector?
We are aware of the importance of digital solutions and technological advancement, as it will improve operational efficiencies, portfolio growth, safety, and customer experience. Accordingly, we plan to digitalize the hydrocarbon value chain inside and outside the State of Kuwait from the core operations to meeting needs.
Looking at the Kuwaiti oil output in the regional perspective, what strategy does the Ministry of Oil aims to implement to ensure a strong economic presence and increasing participation of the oil industry on the regional level?
The Ministry of Oil’s strategy ensures strong economic presence in the region through continuing expansion in crude oil, natural gas, petroleum, and petrochemical products with low carbon intensity. In addition, we plan to enter into new energy businesses as part of the 2050 Energy Transition Strategy such as advanced mobility (such as installing chargers for EVs), recycled plastics, biofuels, and green hydrogen.
Looking toward the future, what priorities and plans are being put in place for the country’s oil and gas sector in the coming year?
In the coming year, we are targeting to increase revenues from oil prices in order to implement our expansion strategy by completing our major projects with the lowest cost per barrel as well as with the least GHG emissions. Moreover, it is important to remain fiscally responsible by optimizing the capital and operational expenditures.