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Kuwait's KPC to spend $114.8 billion dollars on oil projects in 5 years

 

 


KUWAIT
Petroleumworld.com 02 14 2017

Kuwait Petroleum Corp (KPC) expects to spend 35 billion dinars ($114.8 billion) on oil projects in the next five years, its chief executive officer said on Monday, adding 30 percent of the amount would be for local content.

Spending by KPC and its affiliates on local services and products will jump to 1.2 billion dinars annually this fiscal year and next year, Essam al-Marzouq, Kuwait's oil minister, said.

Marzouq and KPC CEO Nizar al-Adsani made the comments at an industry conference.



Reporting by Ahmed Hagagy, Writing by Reem Shamseddine; Editing by Subhranshu Sahu from Reuters.

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