Kuwait
114 Employees
-
Third-party revenues
$254,802,188
-
Related-party revenues
$26,321,340
-
Total revenues
$281,123,528
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Profit before tax
$159,822,597
-
Tax paid
$40,699,304
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Tax accrued
$23,012,718
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Tangible assets
$0
-
Stated capital
$0
-
Accumulated earnings
$0
Main business activities
- Upstream
- Integrated Gas
Shell’s footprint
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 provides technical and other support services to KOC.
In 2018, Shell Global Solutions International B.V. signed an agreement with KOC to support enhanced oil recovery activities in the west of Kuwait.
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 2020 profits. The tax accrued amount is in respect of the profits for the year 2021.
