PROFIT BEFORE TAX
Main Business Activities
- Upstream and Integrated Gas
Shell has been active in Kuwait since 1948.
In 2010, Shell Kuwait Exploration and Production B.V. and Kuwait Oil Company (KOC) signed an enhanced technical services agreement (ETSA) to jointly develop the Jurassic gas fields in the north of Kuwait. In 2016, Shell Kuwait Exploration and Production B.V. signed two additional ETSAs to provide services to KOC for the North Kuwait Heavy Oil Field and North Kuwait Conventional Oil Field. Shell supports KOC’s operations with the provision of technical and other support services.
In 2016, Shell Global Solutions International B.V. was awarded a plant reliability, integrity, and maintenance contract by Kuwait National Petroleum Company (KNPC) aimed at improving the reliability of the Mina Ahmadi and Mina Abdullah refineries.
In 2018, Shell Global Solutions International B.V. signed an agreement with KOC to support West Kuwait enhanced oil recovery activities.
Country Financial Analysis
The statutory corporate income tax rate in Kuwait is 15%.
Tax is paid in arrears and relates to the tax liability for 2018 profits. The tax accrued amount is in respect of the profits for the year 2019.