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Kuwait's Ambitious Energy Projects: A Vision Unveiled | |
| Sumita Pawar |
Kuwait Petroleum Corporation (KPC) has set its sights on completing 10 mega projects by 2030 to increase upstream capacity and expand downstream into petrochemicals.
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However, the outlook is clouded by rising costs, project delays, and political issues.
Despite its impressive project roster, KPC has struggled with delays and cost overruns, resulting in a fall in oil production capacity.
The company's long-standing 4 million b/d target has been pushed back to 2035, five years earlier than the previously communicated 2040.
KPC aims to expedite ongoing projects and revive long-planned and delayed ones, according to insider plans.
The firm's subsidiaries plan to deliver the mega oil projects between 2024 and 2030, some of which have been in planning for at least a decade or are years behind schedule.