Core Insights - Kuwait Petroleum Corporation plans to invest up to $3.9 billion in exploration and drilling by 2030 as part of a larger ten-year drilling and maintenance program with a total budget of $32 billion [1] - The company aims to drill and maintain up to 6,193 oil wells by 2030 [1] - Kuwait's oil production capacity has declined since 2010, when it was 3.3 million barrels per day, and the country is now working to increase its oil production capacity [1] Investment Plans - The investment in exploration and drilling is part of a broader strategy to enhance oil production capabilities [1] - Kuwait has announced plans to invest up to $50 billion over the next five years to increase oil production capacity to nearly 4 million barrels per day [1] OPEC Context - As a founding member of OPEC, Kuwait is the fifth-largest oil producer in the organization, following Saudi Arabia, Iraq, Iran, and the UAE [1] - Increased oil production capacity may help Kuwait secure a higher oil production quota within the OPEC+ agreement [1]
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Zhong Guo Hua Gong Bao·2025-11-05 02:36