Wait drags on for foreign access to Kuwait’s oil

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LONDON (Reuters) – International companies that have already been waiting around a decade for the opening up of Kuwait’s oil reserves will have to wait at least until the end of the year, a top oil official said on Tuesday.

He stressed the urgency of bringing in foreign firms to help boost output at oilfields torched after the 1990
Iraq invasion.

“The longer we wait, the more difficult it will be to achieve,” Farouk al-Zanki, head of the Kuwait Oil Company, told Reuters. “There’s a really positive indication that it’s a priority.”

“We need more help. We have an ambitious production plan. We want to meet our target. We can’t do it on our own,” he said.

Reuters