Opportunities
With 11 % of the world’s proven oil reserves, Kuwait ranks number 4 after the world’s number 1 Saudi Arabia, number 2 Iran and number 3 Iraq. You will be at the heart of an area where tens of billions of dollars are being spent on exploration, development, production, refi ning, transportation, chemicals, power generation, water treatment and related services.
Kuwait counts many investment projects:
- Kuwait’s current production capacity is 2.6 million barrels of crude oil per day. This will be increased significantly to 3 million barrels per day by 2010, 3.5 million by 2015 and 4 million by 2020.
- Refining capacity will be increased to 1.5 million per day with special mention of the 600,000 barrels/day Al-Zour complex refinery to be completed by 2011
- Building new petrochemical plants like ‘Aromatics’
- Transportation and storage capacity, e.g. tanker fleet renewal
- Development of the new Dhabi II gas field
- Developing north oil fields through the assistance of IOC’s
- Building and modernizing production and export facilities and existing refineries
- Assessing investment opportunities in refining and marketing in the Middle East and Asia
- Anticipated Capital Investments of the Strategy until 2020:
- Total costs of expenditures to implement KPC’s strategic plans are estimated at KD 19 billions (about US$65 billion) distributed as follows:
- Exploration and production inside Kuwait: KD 8 billion (27.2 billion)
- Exploration and production outside Kuwait: KD 1 billion (3.4 billion)
- Refining inside Kuwait: KD 5 billion (US$17 billion)
- Refining & marketing abroad: KD 2 billion (US$6.8 billion)
- Petrochemicals: KD 2 billion (US$6.8 billion)
- Transportation: KD1 billion (US$3.4 billion)