Kuwait's big energy spending plans
The country is working towards raising crude oil production capacity by more than 1.5m barrels a day by 2040
Kuwait Petroleum Corporation (KPC) has set itself some ambitious upstream targets. Its chief executive, Nizar al-Adsani, told the Petroleum Economist annual Strategy Forum in Kuwait City last week that KPC had "launched its 2040 strategy which focuses on growth in oil activities that require significant capital to finance the mega-projects". He went to say that KPC is on course to raise crude oil production capacity to 4.75m b/d by 2040—up from the current level of around 3.1m b/d. Adsani stressed that the goal was achievable. "I wish to assure you," he continued "that Kuwait Oil Company [a KPC subsidiary] will deliver on this strategic production target. All projects are at the implementati
Also in this section
15 November 2024
With Chevron and AIM-listed Challenger Energy having completed their Uruguayan farm-out deal, Challenger CEO Eytan Uliel updates Petroleum Economist on the firm's progress in the frontier basin
14 November 2024
The country is seeking to secure its position as a major global refiner and meet rising domestic requirements
13 November 2024
IOCs are focused on the next wave of exploration activity in Namibia and are keen to learn from one another’s results
