ArabianBusiness.com - Middle East Business News
Sunday, 21 March 2010 20:59 UAE time

YOUR DIRECTORY /

Print Print | Email Email | Discuss this article (0 Comments)
| Share |

Kuwait reveals $51bn five-year energy plan

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Wednesday, 19 December 2007

Kuwait is to invest $51 billion in its energy sector over the next five years in a bid to increase production capacity and stem a decline in supply from older oilfields, according to the head of the state oil company.

Chief executive of Kuwait Petroleum Sa’ad Al-Shuwaib said the country was undertaking an “aggressive programme to enhance production capacity”, quoted newswire Bloomberg, adding that production should reach four million barrels per day (bpd) by 2020.

According to Al-Shuwaib, Kuwait Oil Company is set to develop heavy-oil reserves in the Lower Fars reservoir with ExxonMobil within two to three years, producing “very sufficient quantities” within five years.

advertisement

Print Print | Email Email | Discuss this article
| Share |


READERS' COMMENTS

Disclaimer: The views expressed here by our readers are not necessarily shared by ArabianBusiness.com or its employees.

Click here to post a comment


Add your Comment
All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Arabian Business would like to point out that only comments relevant to the story will be published. Any containing personal insults or inappropriate language will not be approved.
Name *
Remember me on this computer
Email *
(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments


Please click post only once - your comment will not be published immediately.


MORE FROM ARABIANBUSINESS.COM

TOP IN MIDDLE EAST ENERGY

  1. 'No Question' about rolling over quota - Saudi oil min
  2. Maersk says all platforms ready for $6bn Qatar oil plan
  3. Abu Dhabi's TAQA plans $1.4bn capex in 2010
  4. Abu Dhabi eyes 'smart' meters to cut power demand peaks
  5. Saudi needs to invest more in power, water - BSF

TOP MIDDLE EAST BUSINESS STORIES

  1. Emaar outsources education portfolio
  2. Mobile health unit launched for UAE labourers
  3. GCC unemployment forecast to hit 10.5% in 2010
  4. Dubai school inspection results out in May
  5. Depa buys out marble producer Carrara

ALSO IN MIDDLE EAST ENERGY

  1. Oil market update: Crude oil futures slip
  2. 14 firms in running to advise on DEWA's first private deal
  3. Oil field of the future
  4. Smart software
  5. SNC Lavalin lowest bidder for Saudi consultant deal

LATEST MIDDLE EAST BUSINESS NEWS

  1. Technology: Bharti gets $8.3bn in funding for Zain purchase
  2. Education: Emaar outsources education portfolio
  3. Retail: Children's bedroom brand to open second store in Dubai
  4. Transportation: Abu Dhabi airport sees 17.2% growth in Feb
  5. Energy: Oil market update: Crude oil futures slip

SHARE PRICE CHECK

RELATED STORIES

Kuwait Petroleum Corporation
| 36 stories
  1. Kuwait set for $9bn China refinery approval by year end
    1 Mar '10 | News
  2. Kuwait's SPC to review stalled refinery project
    15 Feb '10 | News
  3. Kuwait to spend $15bn expanding plant capacity
    28 Jan '10 | News

RELATED LINKS

  1. Kuwait Petroleum Corporation»
Related links open in a new window and are not endorsed by ArabianBusiness.com.

 EMAIL ALERTS

  1. Kuwait Petroleum Corporation

  2. Energy


CURRENCY CONVERTOR

Tell us your story

CURRENT ISSUE


 

Best of 2009 - Special Report

Think Tank

READER COMMENTS

  1. EXCLUSIVE: Dubai issues 'alcohol in food' ban to hotels 26
    21 Mar ' 10 at 19:24
    ...hmmmm did any of you care to read the label on a bottle of Listerine?What now.. no more mouthwash too?   More  »
  2. Atlantis frees Sammy the whale shark 06
    21 Mar ' 10 at 12:24
    So, everyone moans & groans about “SAMMY” being kept in Captivity and not having its FREEDOM to swim in the free waters & live in...   More  »
  3. Dubai plans cost friendly offers to woo tourists - paper 05
    21 Mar ' 10 at 16:33
    John, I couldn't agree more. The real experience of Dubai, and other places in the Arabian Peninsula is not found in the fancy,...   More  »

Read all user comments >

MORE FROM ARABIANBUSINESS.COM

JOBS

SPECIAL REPORTS

SURVEYS & REPORTS

PROPERTY