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Kuwait is planning to boost its foreign oil production by nearly 30 percent through massive acquisitions. Kuwait Foreign Petroleum Exploration Company (KUFPEC) will resort to borrowing to fund the acquisitions with a total value of between $975 million and $3.49 billion. KUPEC is planning to increase its output to nearly 139,300bpd in 2026 from 107,100 bpd in 2024 and 98,000 bpd in 2021. KUPEC currently has assets in Indonesia, Egypt, Pakistan, Canada, and Australia with hopes of further expanding its reach in the oil sector. 

Kuwait to boost foreign oil output by 30%: report

Kuwait is planning to boost its foreign oil production by nearly 30 percent through massive acquisitions. Kuwait Foreign Petroleum Exploration Company (KUFPEC) will resort to borrowing to fund the acquisitions with a total value of between $975 million and $3.49 billion. KUPEC is planning to increase its output to nearly 139,300bpd in 2026 from 107,100 bpd in 2024 and 98,000 bpd in 2021. KUPEC currently has assets in Indonesia, Egypt, Pakistan, Canada, and Australia with hopes of further expanding its reach in the oil sector. 

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