Kuwait to invest KD3bn in upstream

27 April 2010

Chairman and managing director of Kuwait Oil Co Sami al Rushaid has said the country plans to invest some KD3bn in upstream developments over the next five years, Reuters has reported. Kuwait's current oil production capacity was expected to hit 3.3 million bpd by August, he said. The world's fourth largest oil exporter is looking to expand oil production capacity to four million barrels per day (bpd) from three million bpd by 2020 and sustain the higher level for 10 years.

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