Kuwait Oil Company (KOC) plans on spending some KD 13 billion (USD 42.2 billion) on oil-related projects in the next five years, the state-run firm said on Sunday.
Kuwait's oil production capacity is expected to reach three million barrels per day (bpd) by the year 2025, which is in line with the Organization of the Petroleum Exporting Countries' (OPEC) output policy, KOC CEO Ahmad Al-Aidan told the press.
On Kuwait's future oil production goals, he underlined national commitments towards an output target of four million bpd by the year 2035.
Source: Kuwait News Agency