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FINANCIAL NEWS
Kuwait Energy posts 24% rise in production
03 May 2013
(MENAFN) Kuwait Energy Co. announced that its oil production rose 24.2 percent during the first quarter to an average of 21,568 barrels of oil per day, reported Gulf News.
The company currently shares 15 percent of the Marib-Shabwa basin in block 5, at a production of 5,700 barrels per day.
Recently, the oil and gas company have announced oil development projects in Oman and Egypt.
The number of exploration projects are expected to reach 16, and the number of developed projects to 56 by the end of the year.
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