Kuwait upbeat on oilfield plan

KUWAIT: Kuwait was confident that the country’s legislature would pass a long-delayed plan to explore northern oilfields with the help from foreign firms, reports said yesterday.

The northern oilfields, crucial to plans to raise output capacity, have been delayed for years by legislators who say the plan could give foreign firms control over the country’s oil wealth.


Kuwait, which has around 10 per cent of the world’s oil reserves, plans to raise its capacity to four million barrels per day oil by 2020.

It produced about 2.55m barrels per day last month, according to a Reuters survey.

Gulf Daily