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KNPC chief underlines risk-management conf. significance.

| KUWAIT, Jan 6 (KUNA) -- Kuwait National Petroleum Company (KNPC) Chief Executive Officer Mohammad Ghazi Al-Mutairi stressed on Monday the importance of the risk-management conference, opened here today, as a good opportunity to get better acquainted with relevant world advancement.

Speaking to reporters on the sidelines of the conference, Al-Mutairi said the significance of the event lies in the fact that it is an opportunity to use risk management an everyday method of action and job at oil companies.

The KNPC and its subsidiaries have been applying the risk-management system for five years by means of establishing specialized departments, he said.

On the Clean Fuel Project, he said the KNPC has already started to carry out the technical assessment of bids offered by competing companies in order to choose the best price for the project.

The bids are being assessed through technical, commercial and legal aspects, the KNPC chief pointed out.

It will take one or two months to finish the assessment process and declare the winner of the project, he added.

On the fourth oil refinery, he said the KNPC would announce soon the winner of the bid for preparing the project land, adding that there is a time difference of six months between both projects. (end) osj.fs.mt KUNA 062057 Jan 14NNNN

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Publication:Kuwait News Agency (KUNA)
Date:Jan 6, 2014
Words:228
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