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Kuwait Gulf Oil Co reveals US$11 billion plans

Money to be spent developing the Neutral Zone it shares with Saudi

By Kevin Baxter  
By Kevin Baxter  

Kuwait Gulf Oil Co (KGOC) has announced spending plans totalling US$11 billion spread over the next 20 years, to increase oil production in the Neutral Zone it shares with Saudi Arabia to 900,000 barrels per day (bpd).

According to news gathering agency Reuters, KGOC will also develop the Dorra gas field in the Neutral Zone in partnership with Saudi Arabia, another project expected to run into the billions.

“The plan is to spend around $11 billion over the next 20 years. This includes all the projects that we have in mind for the development, expansion and drilling,” Bader al-Khashti, the chairman of KGOC told Reuters.

The Neutral Zone currently has an output of  around 538,000 bpd.

 

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