The state-owned Kuwait Petroleum Corp. said it would invest $90 billion
until 2015 in crude oil and natural gas exploration and development.
Officials said this would comprise the first stage of a $340 billion
investment plan through 2030.
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In a briefing on April 5, KPC planning manager Hashin Al Rifai
acknowledged delays in current Kuwaiti energy programs. He cited the Al Zour
refinery, which has faced parliamentary opposition and was not expected to
meet its startup deadline of 2016.
Rifai said the energy plan would be conducted in partnership with
Western energy majors. He cited the U.S. firm ExxonMobil, which has been
negotiating for a heavy oil technical service agreement with KPC.
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