By: Ahmad Awad
Kuwait-Mubasher: Kuwait Oil Company (KOC) will sign three contracts for building gas facilities with a cost of $1 billion, said CEO of KOC Jamal Jaafar.
The contracts will be closed in a month, the CEO said, adding that gas production is planned to be increased by 500 million cubic meters by 2017.
KOC plans on boosting its production to reach an overall of 2.5 billion cubic meters by 2020, the CEO said on the sidelines of an oil and gas conference held Monday.
In March, KOC’s production stood at 3.05 million barrels, with expectations to reach 3.165 million barrels by 2017.
