Kuwait to Boost Oil, Gas Outlays
in Five-year Development Plan

KUWAIT - Kuwait plans a ‘big’ investment to meet oil and gas production targets in its five-year development plan and needs help from international oil companies, the deputy minister for economic affairs said.

By (Bloomberg)

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Published: Sun 5 Jul 2009, 12:16 AM

Last updated: Sun 5 Apr 2015, 9:39 PM

“Now we have the gas production, for which we will mainly need international companies,” said Shaikh Ahmed Al Fahad Al Sabah, a former oil minister. The oil sector is also currently studying the role of IOCs, he said.

Kuwait’s five-year plan involves boosting gas production to between 1.5 billion and 2 billion cubic feet a day by 2015 and raising oil production capacity above the current 3.1 million barrels a day. The country last month signed a deal with Royal Dutch Shell Plc to import liquefied natural gas to help fuel its power plants.


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