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Kuwait Oil Co (KOC) plans to invest approximately $43 billion in new oil projects over the next five years, according to CEO Ahmed Jaber al-Aydan. The investment aims to expand production by nearly 200,000 barrels per day (bpd). Currently, Kuwait's crude oil production capacity is around 2.8 million bpd and is expected to reach 3 million bpd after 2025. Al-Aydan stated that the capacity could further increase to about 4 million bpd by 2035, and KOC intends to maintain that level until 2040. The strategy includes drilling new wells, increasing their output, and developing oilfield facilities with a budget of approximately KWD 13 billion.

Kuwait Oil Company to invest $43 billion on new oil projects, CEO says

Kuwait Oil Co (KOC) plans to invest approximately $43 billion in new oil projects over the next five years, according to CEO Ahmed Jaber al-Aydan. The investment aims to expand production by nearly 200,000 barrels per day (bpd). Currently, Kuwait’s crude oil production capacity is around 2.8 million bpd and is expected to reach 3 million bpd after 2025. Al-Aydan stated that the capacity could further increase to about 4 million bpd by 2035, and KOC intends to maintain that level until 2040. The strategy includes drilling new wells, increasing their output, and developing oilfield facilities with a budget of approximately KWD 13 billion.

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