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Kuwait needs foreign investor help to reach output targets

Kuwait’s ban on foreign ownership of hydrocarbons is complicating the state firm’s plan to lift oil and gas output

In 2012, Kuwait was the world’s 10th largest oil producer, with output averaging 3.1 million barrels a day (b/d). It hopes to ramp that up to 4m b/d in the next seven years. Although Kuwait has vast oil reserves, including Burgan, the second largest oilfield in the world, state-run Kuwait Petroleum Corporation (KPC) admits it will need help from international oil companies (IOCs) to meet its production targets. The plan calls for output at four northern oil fields, Raudhatain, Sabriya, al-Ratqa, and Abdali, to reach 1m b/d by 2015. In turn, this should drive Kuwait’s overall oil production capacity to 3.5m b/d by 2015, ahead of a ramp-up to 4m b/d by 2020. Much of Kuwait’s oil production i

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