Middle East Economic Survey
KPC Establishes Oil Development And Services Companies
The board of Kuwait Petroleum Corporation (KPC) on 26 September announced the formation of two new subsidiaries one for oil development, the other for oil services. The setting up of a joint stock oil services company, capitalized at KD75mn ($257mn), was reported in early September (MEES, 12 September). According to Kuwaiti press reports, the development companys capital will...