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FINANCIAL NEWS
Kuwait to spend USD79bn to enhance oil capacity
05 Jul 2017
(MENAFN) Kuwait Oil Co. (KOC) is aiming to spend USD79bn in the coming five years, as part of its plans to enhance its output capacity to 4mn bpd, from 3.1mn bpd recently.
Additionally, the firm is one of the globe’s giant crude exporters, awarded deals worth almost USD25.37bn between 2014 and last year.
Moreover, deals worth almost USD8.25bn were given in 2014, whereas those inked in 2015 reached almost USD10.9bn.
Most of the deals were given to global firms and they covered oil exploration, drilling, hydrocarbon support services and other fields.
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MENAFN0507201700450000ID1095600177
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