Opening up energy sector is Kuwait’s key challenge

Kuwait’s new parliament, elected on Thursday, must address outstanding economic issues facing the nation. The challenges include allowing foreign investment in the oil sector, continuing economic reforms and ensuring employment of Kuwaiti nationals in the private sector.

The issue of opening up the upstream energy sector to foreign investors is a contentious one. Successive parliaments have failed to endorse Project Kuwait, which aims at generating an additional 450,000 barrels per day from four fields located in north and west of the country. The development requires an investment of $7 billion over a 20-year period.
Gulf News