Kuwait: KPC Refinery Investment Plans
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Monday, 06 October 2008 |
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Kuwait Petroleum Corp (KPC) plans investments and projects worth 20 billion dinars in the next five years.
The amount included 5 billion dinars designated for a planned
upgrade of Kuwait's Mina Abdullah and Mina Al Ahmadi refineries, Ali Al
Hajeri, head of administrative and financial affairs at KPC.
State refiner Kuwait National Petroleum Co (KNPC), a unit of KPC, said
in July it planned a tender to boost capacity of the two refineries to
800,000 barrels per day from 600,000 bpd which might be worth as much
as 4 billion dinars. No detailed cost estimate for the project has been
given yet.
The projected KPC budget through to 2013 also includes 4 billion dinars
to build the 615,000 bpd Al Zour refinery, Hajeri said. KPC also
planned several other projects to boost productivity and performance of
the oil sector, he added. Kuwait, the world's seventh-largest oil
exporter, sits on 10 per cent of proven global reserves.
PetrolWorld 051008 Source: Al Rai
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