Middle East Economic Survey

VOL. LII

No 51-52

21/28-Dec-2009

KUWAIT

Kuwait Announces $87Bn Oil Outlay

Kuwait will spend KD25bn ($87bn) on its oil sector in the period to 2030, Minister of Oil Shaikh Ahmad al-'Abd Allah al-Sabah announced on 13 December. The figure includes operating costs as well as capital expenditure. The minister said the Kuwaiti private sector was expected to contribute around $17.5bn of this figure, the official KUNA news agency reported.

Kuwaits long-stalled plan for a fourth...