Kuwait Petroleum Corporation (KPC) faced many challenges and crises and achieved numerous accomplishments during the quarter century that Nader Sultan spent in the establishment.

He occupied several positions in the corporation before being appointed as deputy chairman and chief executive officer. During his time, KPC played a major role in the national economy, efficiently dealt with price fluctuations which were quite sharp at times and changes in global supply and demand for oil. Indeed, the corporation faced many challenges and crises and achieved numerous accomplishments.
About these aspects of the story, Sultan has much to reminisce and tell his story.
With oil revenues accounting for more than 80 per cent of the country's revenues and 40 per cent of GNP, KPC plays the major role in the national economy. These figures underline the economic role of the corporation and show that oil plays a bigger role in the Kuwaiti national income than it plays in that of other countries in the region.
This role is two-fold: direct and indirect.
'The direct role is reflected in the direct state revenues achieved by projects managed by the corporation as the operating arm of the oil sector and owner of huge capital projects.
'The profits flowing into the State Treasury from the Corporation's activities amount to $0.5 billion annually, in addition to the job opportunities it provides to Kuwaitis employed in the oil sector, as well as the profits reaped from the privatisation of several oil projects, such as the calciner coke project, fuel stations project and the salt and chlorine project.'
As for the indirect role, he explains, 'despite the lack of specific technical studies that measure the effect of the oil sector on the national economy, it is certain that the investment of the oil sector in capital projects exceeding KD0.5 billion, has considerable and far-reaching effects that can be seen in the creation of job opportunities, service contracts such as maintenance contracts, residential apartments, car contracts and purchase of goods from Kuwait.
'In other words, its impact is felt in the various economic sectors in the country.'
This situation presents KPC with a golden opportunity, by investing in increasing its production capacity, exploration projects, the Northern Oil Fields Project, refining, export and petrochemical projects and expanding its domestic and foreign investments
Nader Sultan takes us down memory lane and tells us about major events he witnessed.
'During the 25 years that I spent at the corporation, it faced many major political, military and technical challenges brought about by events in neighbouring countries, such as the Iran-Iraq war, regional wars, the Iraqi invasion of Kuwait, the decline of oil prices in the middle eighties, the fires in the Kuwaiti oil installations and finally the unfortunate accidents at our refineries.'
He adds: 'KPC owes a lot to those brave officials and employees who were able to face those challenges and overcome them.'
The past quarter of a century has witnessed numerous fluctuations, and sometimes turbulent upheavals, in the oil market.
Having successfully weathered those upheavals at the relatively young age of 25 years, the corporation has indeed achieved a great deal, evidence of the strength and wisdom of the corporation's leadership.
During its youth phase, which started in the nineties, KPC encountered several crises and problems such as the oil well fires in 1990/1991 at the hands of the Iraqi invasion forces.
The corporation was able to restore productivity to its current level after the fires were brought under control and the wells re-built.
Concerning his wishes for the Kuwaiti oil industry, Sultan says: 'I wish that the Kuwaiti oil industry be the best in the region, the highest in terms of security, safety and environment, an increased productivity for our employees, ensuring them job satisfaction and adequately high remuneration and for customers, developing our services and reaching the highest technical, scientific and management levels of the giant international oil companies.'
Sultan emphasises that the reasons behind KPC's outstanding success during the past years were common vision for the future, teamwork and competent leadership.
These reasons, he adds, are the underlying drivers of the corporation's success today.
'It is my most sincere wish that the workers in the oil sector continue to work with the same team spirit, common vision and complete cooperation and offer their support to our new chief executive officer.'