Kuwait plans huge oil and gas projects

Kuwait plans huge oil and gas projects

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By  Sean Cronin Published  May 21, 2005

Kuwait plans to spend around US $8 billion on a massive downstream construction programme, which will see a raft of oil and gas projects start over the next five years. Hyundai has taken the first major package of work involving the US $400 million upgrade of the Mina al-Ahmadi refinery, designed to improve ethane recovery. The contract is expected to take until 2007 to complete. The country’s second largest plant at Mina Abdullah is also expected to be upgraded, while plans are being prepared for a new refinery with the capacity to produce up to 600 000 barrels per year. Current oil production in Kuwait totals around 930 000 barrels of oil per year, but that figure is set to increase to around 1.2 million barrels over the next five years.

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