Speaking to the Kuwaiti media, the chairman of the Kuwait Oil Co (KOC), Ahmad Al Arbeed, confirmed, “Our strategy is to increase our production capacity to 4 million bpd by 2020.”
Ahmad also confirmed the need to “seek the help of foreign oil majors which have been invited to participate in the US$7 billion Project Kuwait”.
The controversial, massive project is part of the Kuwaiti government initiative to develop the country’s northern oil fields. It has been delayed for several years due to strong opposition from the Kuwaiti parliament.
