Kuwait: to open oil sector by year's end ...
Article Abstract:
Kuwait's plan to boost its oil production capacity by 1 mil barrels per day (bopd) by the year 2000, from its current production capacity of 2.4 mil bopd has forced the government to open up its its oil exploration sector. The plan to liberalize the oil exploration sector has been staunchly opposed by the political opposition, wanting to maintain oil production in Kuwaiti hands. Kuwaiti Oil Minister Sheik Saud Nasser al-Sabah believes that a restructuring of the Kuwait Petroleum Company is in order to achieve the government's aim of improving the country's oil infrastructure.
Publication Name: Middle East Executive Reports
Subject: Economics
ISSN: 0271-0498
Year: 1998
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Kuwait's oil industry: strategy to move into the next century
Article Abstract:
The ambitious plan of the Kuwaiti government to increase its oil production and proven reserves by the turn of the century has forced the government to open up its oil exploration sector to foreigners. Kuwait plans to increase oil production to reach 3 mil barrels per day (bopd) by 2005 and to increase its proven reserves by 16 bil barrel by 2010. This can only be achieved by Kuwait by improving its oil extraction technology, hence the invitation to foreigners. The country needs a total investment of $13 bil to achieve their ambitious targets.
Publication Name: Middle East Executive Reports
Subject: Economics
ISSN: 0271-0498
Year: 1998
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Kuwait's oil industry: strategy to move into the next century
Article Abstract:
Kuwait National Petroleum Company's (KNPC) long-term plotting demands the boosting of total refining capacity to one mil b/d and the refineries' capability to generate greater value refined products. Prospective projects will concentrate on greater diesel desulfurization to satisfy future sulfur criteria beyond year 2000. Other projects will focus on greater general output of refined products to roughly 0.9 to 1.0 mil b/d to capitalize on existing infrastructure.
Publication Name: Middle East Executive Reports
Subject: Economics
ISSN: 0271-0498
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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