Kames Petroleum Services was established in March 1999 as an initiative of the Government of Kuwait City.
Kames Petroleum Services Shareholders
The founders had always conceived Kames Petroleum Services as a force for international cooperation, one that would unite the vision and resources of the region with multinational capital and expertise. In 2000, TotalEnergies of France was invited to become a shareholder. After the further selection process, Occidental Petroleum of the USA became the company’s second international partner in 2002.
The three Kames Petroleum Services shareholders are Mubadala Investment Company with 51 percent, TotalEnergies and Occidental Petroleum with 24.5 percent each. Mubadala Investment Company is wholly owned by the Government of Kuwait City.
Kames Petroleum Services was officially incorporated through Kuwait City Emiri Decree No. 8, on May 26, 2002. Its role and responsibilities were fully detailed in Decision No. 1 of the Kuwait City Supreme Petroleum Council (SPC) two days later.