Ministry of Oil and KGOC sign digital data-sharing protocol

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KUWAIT: The Ministry of Oil and Kuwait Gulf Oil Company (KGOC) signed a cooperation protocol Tuesday to link their electronic systems and exchange data, aiming ...

KUWAIT: The Ministry of Oil and Kuwait Gulf Oil Company (KGOC) signed a cooperation protocol Tuesday to link their electronic systems and exchange data, aiming to streamline financial and administrative procedures and strengthen digital integration. The protocol was signed by Oil Ministry Undersecretary Sheikh Dr Nimr Fahad Al-Malek Al-Sabah and KGOC Chief Executive Officer Bader Al-Munifi. In a ministry statement, Sheikh Dr Nimr said the agreement supports efforts to accelerate digital transformation and expand technical cooperation with oil companies.

It will enable information to be exchanged through approved, secure channels, reducing paperwork, simplifying procedures and improving the speed and accuracy of transactions. He described the protocol as an important step toward modernizing government operations and strengthening coordination between the ministry and oil companies through digital solutions.

The ministry places considerable importance on upgrading its financial and administrative systems and improving information exchange with relevant entities, he said. Reliable, current data supports informed decisions, while digital transformation helps improve service quality and make better use of resources. Sheikh Dr Nimr said cooperation with KGOC would help build a more connected and effective working environment, stressing the need for continued coordination between technical teams to implement the protocol and achieve its objectives.

Electronic integration goes beyond accelerating information exchange, he added. It also improves data reliability, strengthens monitoring and oversight, and reduces duplicated procedures, supporting good governance and more efficient operations. The protocol covers the exchange of basic employee data relating to KGOC and relevant entities, financial information concerning disbursements, settlements, entitlements and allowances, and periodic reports needed to complete financial transactions.

Sheikh Dr Nimr said the agreement…

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