16 May 2007 - 13:48
  • News Code: 104837

Kuwait could potentially boost its oil capacity to 4m bpd by 2012 after recent finds, eight years earlier than a previous target of 2010, Reuters reported quoting oil minister Sheikh Ali al-Jarrah al-Sabah.

Kuwait"s existing capacity is around 2.8m bpd. Kuwait has also commissioned a report from investment banks Morgan Stanley and Lazard as to the prospects of kick-starting the delayed Project Kuwait plan to boost output from its northern fields.

News Code 104837

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