OREANDA-NEWS. September 19, 2013. In his paid visit to PIC, the Deputy Prime Minister, Minister of Oil and KPC Chairman Mustafa Al-Shimali met with the top management.

He viewed the 50-year long of PIC history, its strategic objectives, KPC petrochemical policies and the expansion projects, both inside and outside Kuwait. As well, PIC investment achievements including the 10% share of KPC net profits and its 4.5% share in the local non-oil related production were also outlined.

Other points of discussion were PIC future projects, such as the 3rd Olefins project, 2nd Aromatics project, and integration process with NRP & CFP as well as the maximization of Kuwait State oil resources and creation of new job opportunities for the Kuwaitis. The light was shed also on the challenges and obstacles which are facing these projects, including the lack of industrial lands, proper utilization of feedstock of Ethan gas.

The Minister thanked the employees of the Company. He expressed full support for PIC expansion plans in petrochemical activities, both inside and outside Kuwait. "Our focus is on solving all problems that may face these vital projects. We want a diversified economy which is attractive for investments. We are also seeking to open new world markets in order to boost Kuwait industry and economy," Al-Shimali concluded.