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KPC to spend $100bn on oil projects in five years
- Kuwait: Tuesday, November 06 - 2012 at 00:35
Faruq al-Zanki, the CEO of Kuwait Petroleum Corp (KPC) has said the Gulf country plans to spend some $100bn on oil projects inside and outside the country over the next five years, AFP has reported. "Around $100bn has been earmarked for oil projects... 60% of it on upstream projects inside and outside Kuwait," al-Zanki told reporters. The expenditure is part of the emirate's long-term strategy to raise output capacity to four million barrels per day from the current three million, Zanki said on the sidelines of the Kuwait Energy Projects conference organised by Meed.
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