October 7, 2009

BWise Press Release

Kuwait National Petroleum Company, KNPC and KAFCO, Utilize BWise for GRC Success

New York, NY, ‘s-Hertogenbosch, Netherlands, October 7, 2009 – BWise, the global leader in governance, risk and compliance (GRC) management software, announced today that Kuwait National Petroleum Company (KNPC) and Kuwait Aviation Fuelling Company (KAFCO), both subsidiaries of Kuwait Petroleum Corporation (KPC), have implemented and rolled out the BWise GRC solution. This new system is enabling both organizations to effectively mitigate corporate risks and ensure compliance in a highly efficient and cost effective manner. KNPC is the leading company engaged in the refining of crude oil, liquefaction of natural gas and marketing of oil and gas products. KNPC has a refining capacity of over 900,000 barrels per day. KAFCO is a specialized company in aviation fuelling operations.

The primary objective that KNPC and KAFCO wanted to realize was to create an overall and more transparent view on their risks across their respective companies. Mr. Ousama H. Shammas, Manager Functional Excellence Group at KNPC stated, "We wanted to develop common corporate approaches, policies and processes to manage all the risks facing KNPC in the most efficient and effective manner.” Mr. Basil Al-Naqi, ERM Project Leader, also stated “BWise was selected as KNPC’s solution because they can serve best in the needs we have. The advanced reporting capabilities will be utilized to maximize the business benefit for KNPC.”

“With BWise we have the level of transparency we need to ensure that risks are mitigated effectively,” stated Mr. Awad Al Wadani, Deputy General Manager, KAFCO. “We chose BWise because they have the proven global know-how and experience to get the job done right, with a comprehensive solution that drives compliance as well as business process improvements.”

BWise was implemented in Kuwait within seven months; the roll-out included thirty four departments, 6,000 employees, covering the complete KNPC and KAFCO organizations. The implementation included the uploading of KNPC’s risk register and complete end-user training. BWise consultants were able to perform the implementation this quickly because KNPC was well prepared. Together with Accenture, KNPC defined a clear project approach and objectives which enabled BWise to implement the system efficiently.

Marcel Starink, BWise Vice President of Sales EMEA, said “BWise is honored to add KNPC to our global customer list, one of the world’s leading Oil & Gas companies and KAFCO, a leading aviation fuel supplier. KNPC and KAFCO are organizations that demand superior business performance; this requires the highest quality of their internal organization, including the quality of their partners. BWise is proud to contribute to the further growth of KNPC and KAFCO and will continue to deliver value with the optimization of their ERM processes.”

 

More news...

Scroll up