Kuwait Oil Company to invest $1.3bn on power projects

25 November 2013

Power projects will form part of Kuwait Oil Company’s expansion plans

The Kuwait Oil Company (KOC) is to invest KD360m ($1.3bn) on building power substations and associated infrastructure, MEED’s Kuwait Projects 2013 conference has been told.

Bader al-Attar, manager for corporate planning, Kuwait Oil Company, told the MEED event that the capital expenditure would ensure KOC’s ambitious expansion plans would have the necessary power and electricity infrastructure.

The power projects will form part of KOC’s total planned capital expenditure of KD13bn between 2014 and 2019 on new projects. By 2020, KOC is planning to have increased oil production rate from the current 3 million barrels a day (b/d) to 3.65 million b/d.

 

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