KPC eyes USD 115 billion in spending

Kuwait

KUWAIT CITY, February 14, 2017 – The Kuwait Petroleum Corporation anticipates spending KWD 35 billion (USD 114.8 billion) over the next five years, the company’s CEO said on Monday.

Nizar Al Adsani said 30% of the spending would be directed towards local content.

Earlier this month, the company announced it would hire more than 2,000 Kuwaitis in the 2017-2018 fiscal year (April 1-March 31). This would bring the total number of nationals in the oil industry to above 4,000.

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