KPC Allocates USD 100 Billion per Year for Oil Projects

Source: KUNA 11/5/2012, Location: Middle East

Deputy Chairman and Chief Executive Officer of Kuwait Petroleum Corporation (KPC) Farouq Al-Zanki said the company earmarks USD 100 billion per year for oil projects. Al-Zanki said, in a press statement on the sideline of Kuwait Energy and Infrastructure Projects Conference, organized by MEED Events, that half of the allocated budget is spent on exploration and production projects, while the rest of the sum is used for refining and petrochemical projects.

The official noted that the current conditions are encouraging, especially with regard to implementing KPC's strategic vision for the next five years, adding that execution procedures for the new refinery and environmental projects have already begun. Al-Zanki said KPC exploration and production projects are continuing, noting that additional projects on natural free gas are also on the way.

The conference brings together key government clients along with major private sector players to discuss various projects and key associated challenges across sectors including oil and gas, power and water, social and transport infrastructure and finance.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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