The HPC was established by virtue of an Amiri decree issued on August 26th, 1974 and was headed by His Highness the Crown Prince and Prime Minister Sheikh Saad Al-Abdallah Al-Salem Al-Sabah until 1993, then the Amiri decree was amended and the HPC became chaired by His Excellency the then First Deputy Premier and Foreign Minister Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah. His Highness remained at the Commission's top position following the formation of the July 2003 government. By virtue of a decree issued in April 2007, His Highness the Prime Minister Sheikh Nasser Al-Mohammed Al-Ahmed Al-Sabah assumed the chairmanship of the Commission. The HPC comprises a number of specialized ministers and non-government members.
To map out general policies for the oil wealth in order to ensure its optimal exploitation and development, the best revenues and an integrated oil industry. The HPC also supervises the setting up and implementation of general policies related to the following issues:
The Commission also supervises the setting up and implementation of general policies related to the following issues:
- Exploration, excavation and drilling for crude oil, natural gas and other hydrocarbon substances, as well as the production, storage and distillation of these substances and their derivatives and extracts.
- Transport, distribution, marketing and trading of crude oil, natural gas, liquefied gas and other hydrocarbon products and their derivatives.
- Production of petrochemicals and storage, transport and marketing of their products.
- Reviewing of applications for the establishment of companies conducting any of the above activities prior to approval by the concerned authority.
- Services related to whatever concerns the construction, maintenance and operation of plants and installations and the necessary means and equipment for this purpose.
- Studies and research in every oil wealth related area.
- Development of national resources in the technical, economic and organizational fields related to oil activities.
In recent years, the Commission has adopted a number of decisions in relation to the oil industry, among which the most outstanding were:
Approval of international oil companies’ assistance in the development and production of oil in Kuwait based on operational services agreements.
- Endorsement of the transfer of fuel filling stations to the Private Sector.
- Adoption of the strategy of Kuwait Petroleum Corporation and its subsidiary companies to the year 2020, including the development of new petrochemical plants and refineries.
- Agreement on the establishment of the Aromatics Project with the participation of the Kuwaiti private sector and foreign investors.
- Agreement on the construction of a second Olefins plant, with the participation of the Kuwaiti private sector and foreign investors.
- Agreement on the construction of a new oil refinery with a refining capacity of approximately 400 Thousand barrels per day.
Accomplishments of the High Petroleum Commission during the Premiership of His Highness Sheikh Nasser Al-Mohammed Al-Ahmed Al-Sabah.
- Approval of the privatization programme and endorsement of objectives, policies and criteria as a basis for the privatization programme action.
- Endorsement of the extension and development of Kuwait National Petroleum Company (KNPC) current refineries (phase two).
- Endorsement of the construction of the new refinery at a capital cost of 4 billion Kuwaiti Dinars.
- Amendment of salaries, premiums, and allowances of employees in the Kuwait Petroleum Company and all other companies under its full ownership, and operating in Kuwait.
Decree number 51 for the year 2010 to form the High Petroleum Commission
After reviewing the constitution and the decree issued on the 8th of Shaaban 1394 A.H, corresponding to the 26th of August 1974 to establish the High Petroleum Commission and the amended decrees pertaining to it, and upon the presentation of the Prime Minister and following the cabinet approval,
We decreed the following:
Article One: The High Petroleum Commission is formed and chaired by His Highness the Prime Minister or whomever he charges of ministers and the membership of:
- Deputy Prime Minister and Minister of Foreign Affairs.
- Deputy Prime Minister for Economic Affairs and Minister of State for Development Affairs and Minister of State State for Housing Affairs.
- Minister of Oil.
- Minister of State for Cabinet Affairs.
- Minister of Finance.
- Minister of Commerce and Industry.
- Governor of the Central Bank of Kuwait.
Article Two: The following shall be appointed at the High Petroleum Commission for 3 years:
- Sulaiman Nusf Al-Omani.
- Sabah Al-Khaled Al-Hamad Al-Sabah.
- AbdulMohsen Yousif Al-Haneef.
- Ali Mohammad Akbar.
- Imad Mohammad Al-Ateqi.
- Essa Mohammad al-Mazidi.
- Mohammad Ibteihan Al-Duwaihis.
- Hisham Sulaiman Al-Utaibi.
- Naif Falah Al-Hajraf.
- Mohammad Humoud Ibraheem Al-Hajri.
Article Three: The Prime Minister and ministers must, each within his own jurisdiction, implement this decree, and act upon it from the date it is issued in the official paper.
Amir of Kuwait
Sabah Al-Ahmad Al-Jaber Al-Sabah
Nasser Al-Mohammed Al-Ahmed Al-Sabah
Issued in Seif Palace on: 19th of Safar 1431 A.H
Corresponding to: February 3rd, 2010.