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KPC eyes $500bn investment

by Jonathan Sheikh-Miller on Feb 1, 2018


Kuwait has ambitious plans for its hydrocarbon industry.
Kuwait has ambitious plans for its hydrocarbon industry.

The Kuwait Petroleum Corporation (KPC) plans to invest more than $500bn as it ramps up its crude oil production capacity to 4.75mn barrels per day (bpd) in 2040, according to comments from the national oil company on Wednesday and reported by the WAM news agency.

CEO Nizar Al Adsani told an industry conference “KPC is expected to spend $114bn in capex over the next five years and an additional $394bn beyond that to 2040.” Kuwait's present output capacity is a little above 3.1mn bpd.

Al Adsani also outlined significant downstream ambitions at the event. He suggested KPC wants to hike its refining capacity by several hundred thousand bpd inside the next two decades, while, at the same time, lifting its production of petrochemical products at sites both inside and outside the Gulf state.


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