Kuwait Petroleum Corp set to spend $113bln in 5 years | ZAWYA MENA Edition

Kuwait Petroleum Corp set to spend $113bln in 5 years | ZAWYA MENA Edition:

"Kuwait plans to invest a whopping KD34 billion ($113 billion) over the next five years mainly to boost oil exploration and production activity both inside and outside the country, reported Kuwait News Agency (Kuna). This comes as part of Kuwait Petroleum Corporation's (KPC) 2040 ambitious road map for the country's oil sector with the ultimate goal to maximize revenue generation to the Kuwait's economy, said the Kuna report citing the country’s oil minister. "Through this we aim to raise production of nonassociated gas to nearly 500 million standard cu ft per day by the end of 2018," remarked Oil Minister Bakhit Al Rashidi."



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