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Kuwait to spend $43bln on oil projects in 5 years

State-owned Kuwait Oil Company (KOC) is planning to pump nearly 13 billion Iraqi dinars ($43 billion) into new oil projects in the next five years to expand production by nearly 200,000 barrels per day, its CEO was quoted on Monday as saying.

Ahmed Al-Aidan said the crude oil production capacity of the OPEC member currently stands at around 2.8 million bpd and is expected to reach three 3 bpd after 2025.

He told a local seminar that capacity could rise to about 4 million bpd by 2035 and that KOC intends to maintain that level until 2040.

Link: https://www.zawya.com/en/projects/oil-and-gas/kuwait-to-spend-43bln-on-oil-projects-in-5-years-daotvowv

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