Kuwaiti Oil Barrel Price96.84 Date:23-09-2022

About
Oil Ministry

Brief History

Sheikh Ahmed Al Jaber Al Sabah granted Kuwait Oil Limited Company with the participation of Protol British Company "BP" and American Oil Gulf Company "Gulf Oil" the right of franchise of concessionaire to explore oil in all Kuwait lands and territorial water for 75 year period and this was on 23rd December 1934. However, when the first oil field is discovered in the State of Kuwait in 1933 and specifically at Burgan Area and then, discovery is continued. First shipment of oil was exported in 1946. When Kuwait obtained its independence in the era of Sheikh Abdulla Al Salem Al Sabah, First Ministry was formed which included Ministry of Finance and Economy and such Ministry was looking after oil affairs in that time.

This situation continued until the late His Highness Sheikh Sabah Al Salem Al Sabah took over the emirate of the State of Kuwait at the end of 1965 and he accordingly became the 12th Ruler of the State of Kuwait. His Highness adopted proper policy distinguished by highest wisdom.. His Highness since he took over ruling realized the extent of oil importance upon the life of the country. Then he issued several laws to achieve the actual control and perfect sovereignty over the capabilities and resources of the State including oil resources which forms substantial goal for the petroleum policy of the country achieving thereby consecutive victories the most significant which was signing the partnership agreement on 29th January 1974 between the Government of the State of Kuwait and B.P. Kuwait Limited Company and Gulf Kuwait Company.

Then His Highness issued an Amiri Decree dated April 1975 under which it is resolved to separate Ministry of Oil from Ministry of Finance and nationalizing the oil industry by signing the agreement for control by the State of Kuwait over oil resources and subsequently the agreement for passing of all the two companies rights to the State on 16th March 1996 and imposing the complete control of the State over their interests in Kuwait.

Since the beginning of the first stage of oil production and export, State of Kuwait drawn and executed a clear petroleum policy aiming to achieve best benefit for the country. Such policy is developed with the developments which the petroleum industry has passed through either on the local or international level and Kuwait petroleum policy remained seeking always to achieve the complete ownership of oil sector.

Ministry
of Oil Tender
Announcement

Ministry of Oil Building - Oil Sector - Third Floor
Finance Department

Announcement from Exercise No. 2023-2022/2 The Ministry of Oil announces the launch of an internal practice for a period of 3 years, which is

Renewal of a license and technical support for the virtual servers system VMware for three years And in accordance with the general and special conditions and specifications contained in the above-mentioned practice documents. The practice documents can be obtained from the Ministry of Oil - Third Floor - Financial Affairs Department - Fund Department during official working hours starting from Sunday, 08/14/2022, for an amount of 75 dinars. (Seventy-five Kuwaiti Dinars) are not refundable, and the deadline for submitting bids is on Thursday, 25/8/2022 at 2:00 pm, in the Ministry of Oil’s Practices Fund, and the bids are valid for a period of 90 days starting from the date of opening the bid envelopes. The value of the initial guarantee for this bid is 2%, and it should be valid for the duration of the bid, bearing in mind that the practice is indivisible

Announcement of Exercise No.1/2022-2023

Oil Ministry Announcement of Exercise No. 2023/1-2023 The Ministry of Oil announces the offering of an internal practice for a period of 3 years, which is: Internet service provision This is in accordance with the general and specific conditions and specifications contained in the above-mentioned practice documents. The practice documents can be obtained from (Ministry of Oil - Third Floor - Financial Affairs Department - Fund Department) during official working hours starting from Sunday 26/6/2022 AD, for an amount The amount of 75 Kuwaiti Dinars (seventy-five Kuwaiti Dinars) is not refundable, and the deadline for submitting bids is on Thursday 7/7/2022 AD at 2:00 pm, in the Practices Fund of the Ministry of Oil, and the bids are valid for a period of 90 days as of From the date of opening the bid envelopes, the value of the initial guarantee for this bid is 2%, and it should be valid for the duration of the bid Bid validity period, noting that the exercise is indivisible.

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